All Bangladesh leather goods makers to get cash incentives on exports

All Bangladesh leather goods manufacturers to get cash sops on exports Pic: Adobe Stock

Insights

  • All Bangladesh leather product firms can now get cash incentives for exporting goods produced at their own factories, the central bank said.
  • However, firms that export leather goods produced in factories owned by a different company will not be eligible for the incentives.
  • Only cent per cent export-oriented companies were eligible for the incentives earlier.
All leather product companies in Bangladesh can now get cash incentives for exporting goods produced at their own factories, the central bank’s Foreign Exchange Policy Department (FEPD) said in a recent circular.

However, companies that export leather goods produced in factories owned by a different company will not be eligible for the incentives.

Only cent per cent export-oriented companies were eligible for the incentives earlier.

All Bangladesh leather product firms can now get cash incentives for exporting goods produced at their own factories, the central bank said. However, firms that export leather goods produced in factories owned by a different company will not be eligible for the incentives. Only cent per cent export-oriented companies were eligible for the incentives earlier.

There were complaints from government agencies that several companies were taking the cash incentives despite not being completely export-oriented, a domestic media outlet reported.

Cash incentives are being offered since 2000 to boost export of leather goods.

At present, a 12-per cent cash incentive is offered against the exported leather products.

SBS Zipper News Desk (DS)

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