Industry

Govt announces export incentive for 43 products including halal meat

The government will provide cash incentives for the export of 43 products including halal meat.

 

The exporters will get this cash assistance ranging from 1.0 per cent to a maximum of 20 per cent in the fiscal year 2022-23, like the previous fiscal.

 

The foreign exchange policy department of Bangladesh Bank (BB) issued a circular in this regard and sent it to all the authorized dealers’ bank on Monday.

 

The circular stated that from July 1, 2022 to June 30, 2023 (2022-23 fiscal), 43 products including 5 sub-sectors of the textile sector will be given incentives against exports. Last year 42 products received this support.

 

According to the circular, 10 percent cash assistance will be given to 100 percent halal meat and 100 percent halal processed meat products in the current financial year. Freelancers at the individual level will get cash assistance at the rate of 4 per cent against the export of software and ITS services.

 

However, market expansion support will not apply to exports to the UK in the textile sector.

 

Exporters say that the cash assistance announced in the ongoing situation will help boost export trade.

 

This incentive will help to overcome the dollar crisis. Besides, there will be relief in foreign trade. Many companies will be able to overcome the crisis and turn around through this export incentive, they said.

 

Source: United News of Bangladesh