|


SAM

Published:
2018-05-13 13:57:47 BdST

Govt disburses Tk 44.81b subsidy to entitled export sectors


FT ONLINE

The government has disbursed subsidy of Tk 44.81 billion, out of the allocated Tk 45 billion, to the entitled export sectors for current fiscal (FY18), said sources.

Currently 27 export sectors are receiving cash incentive including apparel manufacturing industries, frozen food products, leather products, agro-based products and agro-processing industry.

The sectors are enjoying up to 20 per cent cash incentive from the government to increase their export volume.

Except jute, all entitled sectors availed the full amount of allocated cash subsidy for FY18. Raw jute and jute goods exporters did not receive cash subsidy as they did not fulfil their export target.    

The government last week released the 4th (last) instalment of cash incentives of Tk 11.06 billion for disbursing it among major exporters for the period of April to June in the current calendar year.

Of the total amount of the last instalment, the jute and jute goods exporters will get Tk 1.06 billion, according to a circular, issued by finance division.

The finance ministry allocated Tk 5.0 billion for the exportable jute and jute goods sub-sector this fiscal. Of the amount, Tk 4.81 billion has been disbursed, added the circular. 

On the contrary, Tk 40 billion were distributed to others entitled sectors.

Following anti-dumping duty, imposed by the Indian government and political uncertainty in Middle East, export volume of jute goods declined significantly, exporters said.

“So we lost about Tk 190 million of cash incentive on our export earnings this year,” said Abdul Barik Khan, secretary of the Bangladesh Jute Mills Association (BJMA).

Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.


Popular Article from Business