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15 export products to receive cash incentives
12
Sep '09
A new list of 15 exportable products, which would receive cash subsidy in the current fiscal, has been announced by the government. Two new items, plastic pet bottle flex and finished leather, have been included in this list for the ongoing fiscal.

As per the announcement on these listed products, the exporters will receive cash subsidy against net repatriation on the FOB prices (Free On Board prices) from July 1 2009 to June 30, 2010.

A circular, in this regard, has been issued by the Central Bank of Bangladesh that asked the commercial banks to follow the provisions for providing cash subsidy on the products to be exported.

Rate of cash subsidies for this fiscal is nearly similar to that of previous fiscal and it will be 10 percent on plastic pet bottle flex and 7.5 percent on finished leather, from the current fiscal.

To export agro-products such as vegetables and fruits, the government will offer 20 percent cash incentive and on leather goods it will be 17.5 percent, whereas, home-made textiles and jute goods will enjoy cash subsidy at 5 and 10 percent respectively.

Fibre2fashion News Desk - India

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