Furniture, plastic exporters too get cash incentives

The government has announced that it will provide 10-20 per cent cash incentive to the exporters of intestines, horns and arteries of cows and buffaloes, seeds of crops and vegetables, charcoal, furniture and plastic goods for the current fiscal year of 2016-17.
The government will also give cash incentive to the exporters of crust and finished leather goods to be produced at the Tannery Park at Savar, on the outskirts of Dhaka.
A Bangladesh Bank circular issued on Tuesday said the government would give 10 per cent cash incentive for export of intestines, horns and arteries (without bone), 20 per cent for seeds, 20 per cent for charcoal, 15 per cent for furniture and 10 per cent for plastic goods.
The exporters of crust and finished leather goods to be produced at the Tannery Park at Savar will enjoy five per cent cash incentive for this fiscal year.
The government has kept unchanged the cash incentive at 4 per cent for apparel products export, and small and medium industries of the textile sector.
A BB official told New Age on Monday that the export-oriented local textile sector enjoyed the cash incentive as an alternative to duty bonds and duty drawbacks.
The exporters of apparel products will enjoy additional 2 per cent cash incentive if they export their products to the eurozone.
The government has also kept unchanged the cash incentive at 3 per cent for this fiscal year for export of new
textile products and expanding export of textile items to new markets other than the United States, Canada and the European Union.
The government has increased the cash incentive for leather goods to 15 per cent for FY17 from 12.50 per cent for FY16 while the ship exporters will get cash incentive at 10 per cent, up from 5 per cent.
The government has also raised the cash incentive to 20 per cent for the exporters of diversified jute products for FY17 from 10 per cent for FY16.
The government has kept unchanged the cash incentive for jute spin at 5 per cent and for the finished jute goods at 7.50 per cent for FY17.
The government, however, has lowered the cash incentive for potato export to 10 per cent for FY17 from 20 per cent for FY16, according to the BB circular.
The government has not given any cash incentive to the exporters of bone dust although they (exporters) enjoyed 5 per cent cash incentive in FY16.
The government has kept unchanged the cash incentive for other major exported items as the exporters of shrimp will get cash incentive between 10 per cent and 7 per cent like the previous fiscal year.
The exporters of shrimp will get 10 per cent cash incentive if their products are covered with ice of up to 20 per cent of the total weight.
The exporters will get 9 per cent cash incentive against their products which are covered with ice of 20 per cent to 30 per cent of the weight, 8 per cent cash incentive for products covered with ice of 30 per cent to 40 per cent of the weight and 7 per cent cash incentive for products covered with ice of 40 per cent and above of the weight.
The government has also kept unchanged the cash incentive for export of frozen fish for FY17.
The exporters of frozen fish will get 5 per cent cash incentive against their products covered with ice of maximum 5 per cent of the total weight, 4 per cent cash incentive for products covered with ice of 20 per cent to 30 per cent of the weight, 3 per cent cash incentive for products covered with ice of 30 per cent to 40 per cent of the weight and 2 per cent cash incentive for products covered with ice of 40 per cent and above of the weight.
The exporters of light engineering products will continue to get 15 per cent cash incentive, 15 per cent cash incentive for handmade products from hogla, hay and sugarcane fibre, and 20 per cent cash incentive for agro products (vegetables and fruits) and agro-processing products like the previous fiscal year.
The exporters of halal meat and pet bottle-flex will continue to receive 20 per cent and 10 per cent incentive respectively.

News Courtesy: www.newagebd.net