Cash incentives for export of pharma, motorcycle, 33 other items announced

Staff Correspondent | Updated at 11:59pm on September 10, 2018

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A file photo shows motorcycles on display at a showroom in Dhaka. The government on Monday announced cash incentives in favour of exporters of 35 products for the current fiscal year of 2018-19, adding nine new items including motorcycle to the product list. — New Age photo

The government on Monday announced cash incentives in favour of exporters of 35 products for the current fiscal year of 2018-19, adding nine new items to the product list.
In the FY 2017-18, exporters enjoyed the benefit for 26 products.
The government on Monday also raised cash incentive to 4 per cent from 3 per cent for this fiscal year for export of new textile and garment products and expanding export of textile items to new markets — markets other than the United States, Canada and the European Union.
According to a Bangladesh Bank circular issued on Monday, exporters of nine new products including pharmaceuticals, photovoltaic modules, motorcycles, chemical products, razors and razor blades, ceramic products, caps, crabs, mud eels and galvanised sheets/coils would get 10 per cent cash incentive in FY19.
The government also restructured the cash incentive for export of jute goods for the fiscal.
The 20-per cent cash incentive the diversified jute products enjoyed in the previous fiscal year remained unchanged for this fiscal year, while the incentive for export of jute yearn and twine increased to seven per cent from five per cent and the incentive for jute hessian, sacking and carpet backing cloths increased to 12 per cent from 10 per cent.
The government kept unchanged the cash incentive at 4 per cent for apparel products export for the small and medium industries of the textile sector.
According to the circular, the export-oriented local textile sector would enjoy cash incentive at the rate of 4 per cent as an alternative to duty bonds and duty drawbacks.
The 2-per cent cash incentive remained unchanged for the exporters of apparel products who will export their products to the eurozone.
The government kept unchanged the cash incentive at 10 per cent for export of intestines, horns and arteries (without bone), crust and finished leather goods to be produced at the factories in the Tannery Park at Savar in Dhaka and outside the Tannery Park, which have their own effluent treatment plants.
The 10-per cent cash incentive also remained unchanged for the export of ship, plastic products and locally produced paper for FY19.
The government kept unchanged cash incentive at 15 per cent for the export of leather goods, light engendering products, furniture, accumulator battery and shoes made from synthetic fibres and fabric.
The BB circular said that the exporters of frozen fish would get 5 per cent cash incentive for their products covered with ice weighing maximum 20 per cent of the total weight, 4 per cent cash incentive for products covered with ice weighing 20 per cent to 30 per cent of the weight, 3 per cent cash incentive for products covered with ice weighing 30 per cent to 40 per cent of the weight and 2 per cent cash incentive for products covered with ice weighing 40 per
cent and above of the weight.
The exporters of shrimp will get 10 per cent cash incentive if their products are covered with ice weighing up to 20 per cent of the total weight.
The exporters will get 9 per cent cash incentive for their products which are covered with ice weighing 20 per cent to 30 per cent of the weight, 8 per cent cash incentive for products covered with ice weighing 30 per cent to 40 per cent of the weight and 7 per cent cash incentive for products covered with ice weighing 40 per cent and above of the weight.
The government also kept unchanged 20 per cent cash incentive for the export of charcoal, agricultural products, halal meat, potatoes and seeds for FY19.
The pet bottle-flex will receive 5 per cent and polyester staple fibre produce from pet bottle-flex will receive 15 per cent incentive against exports.