Country's 16 export sectors and sub-sectors received Tk 18.40 billion as cash subsidy during the just concluded fiscal year, Bangladesh Bank data shows.
The total export earning was US$22.92 billion in last fiscal (2010-11), up by 41.47 per cent than that of the previous fiscal.
For the current fiscal (2011-2012), the government has allocated Tk 19 billion for 15 export sectors and Tk 3.0 billion for jute and jute goods exporters to promote the export-oriented industries.
Statistics show that in the last fiscal apparel sector received the highest incentive of over Tk 8.77 billion followed by frozen food Tk 3.07 billion, leather and leather goods Tk 1.69 billion, agriculture products Tk 450 million, agro- processing Tk 731 million, and products made of 'hogla' and 'khor' Tk 138 million.
Besides, exporters of bone dust received Tk 26 million, potato Tk 25 million, finished leather Tk 158 million, crust leather Tk 164 million, Halal meat Tk 1.3 million, plastic bottles Tk 165 million, and jute sector Tk 3.0 billion.
The ministry of finance last fiscal released Tk 20 billion in favour of central bank as cash subsidy for the export sectors. The central bank released Tk 18.40 billion in favour of the commercial banks for disbursement.
However, poultry, bicycle and light engineering sectors did not receive any assistance during the last fiscal year.
In fiscal year 2009-10 the government disbursed a sum of Tk 16 billion as cash subsidy among the selected export sectors. Statistics show, only Tk 06.0 million was disbursed as cash incentive in 2002-03, Tk 10 million in 2003-04, Tk 40 million in 2004-05 and Tk 14.11 billion in 2005-06 fiscal.
In the budget for fiscal 2011-2012 the government has allocated Tk 22 billion as assistance for export industry of which 19 billion will go to 15 export sectors and Tk 3.0 billion to jute and jute goods. Of the total allocation the ministry offinance recently released Tk 11 billion to disburse among the export oriented sectors in the first six months of the fiscal.
To promote export -oriented industries the government has been providing cash subsidy to the prime sectors at rates ranging between 5.0 and 20 per cent.
During the current fiscal year 19 export -oriented sectors will receive cash subsidy of which four sectors are new.
Small and medium factories of textiles industry will receive 5.0 per cent additional support. Besides, a cash support of 2.0 per cent will be given to the new products and new market expansion except USA, Canada and EU. Cash incentive for potato export was raised to 20 per cent from 10 per cent in the last fiscal.
The export -oriented textiles sector will get 5.0 per cent as alternative cash incentives, agricultural products and agro-processed food 20 per cent, bicycle export 15 per cent, poultry industry 15 per cent. Products made of 'hogla', 'khor' and 'akher chobra', would get cash incentive at the rates between 15 per cent and 20 per cent and bone dust exporters will get 15 per cent cash subsidy.
The light engineering sector will get 10 per cent export subsidy, liquid glucose export from Iswardi export processing zone will get 20 per cent, and Halal meat exporters will get 20 per cent. From now the on leather goods exporters will get 15 per cent cash incentive.
The frozen food and fish sector will get 10 per cent cash incentive, ship exporters 5.0 per cent, finished leather exporters 4.0 per cent, crust leather 3.0 per cent, plastic bottles and jute goods export 10.0 per cent.
President of Exporters Association of Bangladesh Abdus Salam Murshedy told the FE that the government would have to raise the assistance to the export oriented industry to continue the pace of growth at the present rate.
http://www.thefinancialexpress-bd.com/more.php?news_id=145652&date=2011-08-09
The total export earning was US$22.92 billion in last fiscal (2010-11), up by 41.47 per cent than that of the previous fiscal.
For the current fiscal (2011-2012), the government has allocated Tk 19 billion for 15 export sectors and Tk 3.0 billion for jute and jute goods exporters to promote the export-oriented industries.
Statistics show that in the last fiscal apparel sector received the highest incentive of over Tk 8.77 billion followed by frozen food Tk 3.07 billion, leather and leather goods Tk 1.69 billion, agriculture products Tk 450 million, agro- processing Tk 731 million, and products made of 'hogla' and 'khor' Tk 138 million.
Besides, exporters of bone dust received Tk 26 million, potato Tk 25 million, finished leather Tk 158 million, crust leather Tk 164 million, Halal meat Tk 1.3 million, plastic bottles Tk 165 million, and jute sector Tk 3.0 billion.
The ministry of finance last fiscal released Tk 20 billion in favour of central bank as cash subsidy for the export sectors. The central bank released Tk 18.40 billion in favour of the commercial banks for disbursement.
However, poultry, bicycle and light engineering sectors did not receive any assistance during the last fiscal year.
In fiscal year 2009-10 the government disbursed a sum of Tk 16 billion as cash subsidy among the selected export sectors. Statistics show, only Tk 06.0 million was disbursed as cash incentive in 2002-03, Tk 10 million in 2003-04, Tk 40 million in 2004-05 and Tk 14.11 billion in 2005-06 fiscal.
In the budget for fiscal 2011-2012 the government has allocated Tk 22 billion as assistance for export industry of which 19 billion will go to 15 export sectors and Tk 3.0 billion to jute and jute goods. Of the total allocation the ministry offinance recently released Tk 11 billion to disburse among the export oriented sectors in the first six months of the fiscal.
To promote export -oriented industries the government has been providing cash subsidy to the prime sectors at rates ranging between 5.0 and 20 per cent.
During the current fiscal year 19 export -oriented sectors will receive cash subsidy of which four sectors are new.
Small and medium factories of textiles industry will receive 5.0 per cent additional support. Besides, a cash support of 2.0 per cent will be given to the new products and new market expansion except USA, Canada and EU. Cash incentive for potato export was raised to 20 per cent from 10 per cent in the last fiscal.
The export -oriented textiles sector will get 5.0 per cent as alternative cash incentives, agricultural products and agro-processed food 20 per cent, bicycle export 15 per cent, poultry industry 15 per cent. Products made of 'hogla', 'khor' and 'akher chobra', would get cash incentive at the rates between 15 per cent and 20 per cent and bone dust exporters will get 15 per cent cash subsidy.
The light engineering sector will get 10 per cent export subsidy, liquid glucose export from Iswardi export processing zone will get 20 per cent, and Halal meat exporters will get 20 per cent. From now the on leather goods exporters will get 15 per cent cash incentive.
The frozen food and fish sector will get 10 per cent cash incentive, ship exporters 5.0 per cent, finished leather exporters 4.0 per cent, crust leather 3.0 per cent, plastic bottles and jute goods export 10.0 per cent.
President of Exporters Association of Bangladesh Abdus Salam Murshedy told the FE that the government would have to raise the assistance to the export oriented industry to continue the pace of growth at the present rate.
http://www.thefinancialexpress-bd.com/more.php?news_id=145652&date=2011-08-09
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