Home breadcru News breadcru Policy breadcru Govt declares Tk5bn cash incentives

Govt declares Tk5bn cash incentives

14 Aug '06
1 min read

Government of Bangladesh asked Bangladesh Bank to continue cash incentives in current year to assist exporters to sustain in global competitive arena.

Government has allotted Tk5 billion in current budget for more than 10 sub-sectors.

Out of allotted cash incentives, agriculture sector will get 30 percent, leather footwear 5 percent, readymade garment 5 percent and frozen food sector 10 percent.

But several exporters of garments, frozen foods and leather shoes complained that they have not received cash incentive of Tk6.15 allotted in 2005-06.

Sectors yet to receive cash incentives are as follows:
leather sector (Tk 163 million)
jute sector (Tk 91.3 million.

Garment sector has been facing severe financial problems due to delay in cash incentive, informed Fazlul Houqe, President, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

President also stated that a letter would be drafted to Finance Ministry to avail proposed cash incentives as soon as possible.

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!