Government refixes cash incentive on leather goods to 15 percent

Dhaka, Bangladesh (BBN) – Bangladesh government has re-fixed the cash incentive on leather goods to 15 percent from the 12.50 percent for the fiscal 2011-12 (FY12) to encourage the exporters, officials said on Monday.

“We’ve increased the rate of cash incentive for the leather goods in line with the finance ministry’s advice,” a senior official of the Bangladesh Bank (BB) said, adding that the revised cash subsidy will help boost the country’s leather goods exports.

The central bank of Bangladesh has issued a circular in this connection and asked the commercial banks to follow the instruction relating to the cash incentive on leather goods properly.

Earlier, the government slashed the cash incentive on leather goods to 12.50 per cent for this fiscal year from 15 per cent of the previous one.

BBN/SSR/AD-09Aug11-1:22 am (BST) 

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