The government on Monday revised the cash incentive scheme for the current fiscal year of 2015-2016, raising the rate of incentive for textile products export to the eurozone area and leather goods. Potato starch will also get 20 per cent cash incentive against export proceeds.Bangladesh Bank on Monday issued a number of circulars in this regard. According to a circular, the government increased the rate of cent cash incentive for export of textile products to the eurozone area to 6 per cent from the current 4 per cent. The sector gets the cash incentive as an alternative to the duty bonds and duty drawbacks facility. The rate of cash incentive for export of leather goods has also been increased to 15 per cent from the current 12.50 per cent. The exporters who have already received the cash incentive at the existing rate will also be allowed for the additional benefit and for that, they will have to apply within 30 days of the issuance of the circular. Another circular of the central bank said that potato exporters would have to submit a certificate issued by the Bangladesh Potato Exporters Association for availing the cash incentive which is 20 per cent of export value. The government has also increased the ceiling of freight on board value of frozen shrimp to $4.98 a pound from $3.79 a pound for availing the existing cash incentive while the ceiling has been increased to $1.97 a pound from $1.10 a pound for export of other frozen fish.
