Bangladesh Jute ministry to propose for 10 percent export subsidy

With the Bangladesh government releasing a total of Tk 25.92 billion as cash incentive in the fiscal year 2013-14 to encourage jute and jute goods sector. The Ministry of Textiles & Jute feels the need to increase export subsidy on jute yarn in the upcoming fiscal year to further lift exports to the international market.

The Ministry of Textiles & Jute would be putting forward proposal to the finance ministry to increase the export subsidy offered to jute sector from 7.50 percent to 10 per cent.

The request will be forwarded through a letter to the finance ministry for increasing cash subsidy on jute yarn to 10 percent.

During the first nine month of the current fiscal, the jute and jute goods sector, a negative growth of around 20 per cent was seen over the corresponding period of the last fiscal.

Jute sector needs munificent support from the government to increase the share of its export market. Cash incentive on export offered by the government is an assistance which is performance based. If these cash subsidy were increased jute mills would increase their production to get this benefit. This in turn will help to increase the efficiency level of Bangladesh’s jute industry.

Recent Posts

Swisstulle advances dyeing efficiency with JigMaster

Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.

3 days ago

Birla Cellulose and Circ partner to scale textile recycling

Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…

3 days ago

CARBIOS unveils enzymatically recycled polyester t-shirt

CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…

3 days ago

Yangi launches sustainable fiber-based food tray

Yangi, renowned for its renewable packaging solutions, has launched a fiber-based food tray as a sustainable alternative to plastic trays…

3 days ago

Tarpaulife Project develops alternative to PVC-coated fabrics

The European Tarpaulife Project is working on polyolefin-coated fabrics, such as polyethylene, that can be manufactured to compete with PVC-coated…

3 days ago

Better Cotton to standardise measurements for cotton production

Better Cotton has joined the global non-profit alliance, Cascale, in a three-year project aimed at standardising LCA methods across the…

3 days ago