The government has decided to give 5 per cent cash incentive against export of frozen fish for the current financial year 2014-15 amid declining exports over the last few years.
A Bangladesh Bank circular issued on Thursday said the frozen fish exporters will get cash incentive and the price, unit calculation for availing the cash incentive, will be determined according to a circular of the bank issued on June 3, 2003.
According to the 2003 BB circular, each retail pack of frozen fish would be up to five pound and the higher ceiling of the price will be US$ 1.10 per pound.
The export of frozen fish witnessed a declining trend over the past few years when the government several times changed its position over cash incentives for the sector.
According to the data of Export Promotion Bureau, in the first two months of the current fiscal year the country exported frozen fish worth US$ 3.67 million whereas the target was US$ 9.39 million.
The country exported US$ 52.46 million worth of frozen fish in 2013-14 fiscal year against a target of US$ 60.89 million when the government withdrew the cash incentive for the sector which was 10 per cent.
In 2012-13 fiscal year, the total frozen fish exports was worth US$ 57 million against a target of US$ 133 million with a 46 per cent decline from the target.
The government in the last fiscal year withdrew the 10 per cent cash incentive for the frozen fish and shrimps but later reinstated the facility for the shrimps export only.
-With New Age input
