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Muhith offers Tk 2 bn stimulus for export sector
25 Jun '10
1 min read
With an objective to tackle issues in external trade in the financial year 2010-11, AMA Muhith, Finance Minister, has proposed an allocation of Tk 20 billion for stimulus package.
In the outgoing fiscal, a stimulus of Tk 50 billion was promised for export sector. Although, Tk 34.24 billion of this stimulus was sanctioned in the initial phase for various export-oriented sectors, only the apparel sector was skipped from this stimulus during recession.
However, the apparel sector, which was affected by the delayed recessionary impact, was covered in the second phase of stimulus announced last year in the month of November by the Finance Minister. Many financial incentives were announced by the Minister along with various policies of the package.
Moreover, cash incentives were provided to improve industries such as ship building and finished and crushed leather, informed Muhith. Additional subsidy will be offered on the earnings from shipment of new products, and also to new markets for the textile sector.
In the outgoing fiscal, a stimulus of Tk 50 billion was promised for export sector. Although, Tk 34.24 billion of this stimulus was sanctioned in the initial phase for various export-oriented sectors, only the apparel sector was skipped from this stimulus during recession.
However, the apparel sector, which was affected by the delayed recessionary impact, was covered in the second phase of stimulus announced last year in the month of November by the Finance Minister. Many financial incentives were announced by the Minister along with various policies of the package.
Moreover, cash incentives were provided to improve industries such as ship building and finished and crushed leather, informed Muhith. Additional subsidy will be offered on the earnings from shipment of new products, and also to new markets for the textile sector.
Fibre2Fashion News Desk - India
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