The government has withdrawn cash incentive against exports of all frozen fish and reduced cash incentive against shrimp export for the current fiscal year 2013-2014.
The Bangladesh Bank on Sunday said that the exporters of shrimp would get 7.5 per cent cash incentive against their export while incentives for other fish were withdrawn for the FY 2013-2014.
The cash incentive against all frozen fish export was 10 per cent in the last FY 2012-2013.
The government has also reduced incentives for the export of jute yarn to 7.50 per cent for the year from 10 per cent in the FY 2012-13.
To this end, the BB issued a circular to authorised dealer branches of all the scheduled banks saying that 14 sectors would receive the cash subsidy against their exported products in the FY 2013-14 in line with the Ministry of Finance’s decision on cash subsidy/incentives.
The government gave 10 per cent cash incentive for all exported jute-good products in the FY 2012-13, but it (government) has taken a decision to provide 7.50 per cent for jute yarn and 10 per cent for jute goods in this fiscal year.
According to the circular, exporters would receive cash subsidy for the products against net repatriation of the FOB (freight on board) prices from July 1, 2013 to June 30, 2014.
The government also withdrew 20 per cent cash incentive for liquid glucose exported from Ishwardi Export Processing Zone in the 2012-13 FY.
The cash subsidy for other 13 sectors has not been changed for the FY 2013-14, the BB circular said.
The export-oriented local textile sector will continue to get 5 per cent cash incentive as an alternative to duty bonds and duty drawbacks.
Exporters of handmade products from hogla, hay and sugarcane fibre will continue to receive 15 to 20 per cent, agro products (vegetables and fruits) and agro-processing products 20 per cent and bone dust will get 15 per cent cash incentives.
Light engineering products will get 10 per cent cash incentive.
Exporters of halal meat and potato will continue to receive 20 per cent incentive while ship exporters will get 5 per cent cash incentives.
Exporters will get 2 per cent incentive for textile products for expanding into new markets and exporting new products in countries other than US, Canada and European Union while exporters from small and medium industries in textiles sector will get an additional incentive of 5 per cent along with the regular incentive.
Pet bottle-flex exporters will get 10 per cent incentive.
-With New Age input
