Cash incentives raised for leather-textile-shrimp exports

Bangladesh Bank has increased its cash incentives for leather, textile and shrimp exporters. It increased the incentive for export of leather goods to 15% from 12.50%. The increased aid will be effective only in case of exporting leather products through cargo during the financial year 2015-16 as per government decision, said a BB circular issued yesterday. According to the circular, the previous applications for cash incentive against the exported leather goods, which have already been settled during this financial year, will also be entitled to get an additional 2.50% cash aid. However, the exporters will have to submit applications for the additional cash assistance within 30 days from the date of issuing the circular. “All the authorised dealers will settle the claim of the additional cash assistance on the basis of the audited certificate to support the application,” said the circular. In another circular, the central bank also enhanced the existing ceiling of cash aid against the frozen shrimp and other fishes. The ceiling of cash incentive for frozen shrimp has been increased to US$4.98 per pound from $3.79 and for other fishes to $1.97 from $1.10, according to the circular. The government has also increased cash incentive for the export of RMG goods and textile products through cargo shipment to 4% from existing 2%, said another BB circular issued on the same day. The exporters, who already received 2% cash incentive during the current financial year, will also get the additional 2% incentive subject to submit applications within 30 days from the issuing date of the circular.