Undervest exporters, local industries in economic zones to get cash subsidy
At present, cash incentives ranging from 2-20 percent is provided on export of 26 categories of products
The government has widened its cash subsidy net to undervest exporters and Type-C industries in economic zones and high-tech parks for the 2019-20 fiscal year.
Exporters will get four percent cash subsidy against undervest exports, said a Bangladesh Bank circular issued on Sunday.
Shipment of undervest from July 1, 2019 to June 30, 2020 will come under this cash incentive, said the circular.
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In another circular, the central bank said that 100 percent locally owned industries – categorised as Type-C industries – in economic zones and high-tech parks will get four percent subsidy in the current fiscal year.
These industries will be given subsidy on the condition of 30 percent value addition against their exported items. The subsidy is intended to encourage these industries to explore new export markets, said the circular.
At present, cash incentives ranging from 2-20 percent is provided on export of 26 categories of products.
