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Bangladesh Jute ministry to propose for 10 percent export subsidy

Related Keywords: Bangladeshi jute sector, 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.

BB to initiate its own refinance fund to the tune of Tk 2.0b for jute sector

Related Keywords: Bangladesh Bank scheme, Bangladeshi jute sector

Bangladeshi business people in the jute sector including exporters and jute mills will now get bank loans with a lower rate of interest under the new Bangladesh Bank (BB) scheme. The central bank is going to initiate its own refinance fund to the tune of Tk 2.0 billion for the jute sector after have refused by the government to provide a payment guarantee against the scheme.

A complete proposal will be presented before the board of directors of the Bangladesh Bank (BB) seeking approval of the scheme with the revolving fund having the tenure of five years.

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