Jute exporters seek cash incentives on exports Jute goods exporters on Wednesday demanded cash incentive against their export in the next fiscal to enhance their competitive edge:Daily Sun

Jute goods exporters on Wednesday demanded cash incentive against their export in the next fiscal to enhance their competitive edge in the international market and help them survive. They also urged the government to fix vat not on the value of items, but on profit of their business, to give them little relief from the tax burden. Jute goods exporters made the demands at a pre-budget meeting at th
e NBR conference room in the capital. Leaders of around 10 trade bodies including Bangladesh Textile Mills Association, Bangladesh Terry Towel and Lenin Manufacturers and Exporters Association, Bangladesh Frozen Food Exporters Association, Bangladesh Jute Mills Association and Bangladesh Plastic Good Manufacturers and Exporters Association attended the session and placed their recommendation to be considered in the budget for the upcoming 2015-16 fiscal. While addressing the discussion, S Ahmed Majumder, vice-president of Bangladesh Jute Goods Exporters Association, said they had to explore export markets by their own and there are no government’s efforts for the exporters of the jute sector. They said the Indian exporters enjoy cash incentive from their government, pushing down the Bangladeshi exporters in the international market. Demanding reduced tax at source from 0.60 percent to 0.30 percent for the textile sector, president of Bangladesh Textile Mills Association Tapan Chowdhury said they should get facilities like the apparel sector. He also demanded for withdrawal of duty imposed on flux fiber and increasing alternative cash incentive from existing 5 percent to 10 percent. Informing that around 4 lakh people are employed in the jute sector, Abdhul Bari Khan, Secretary of Bangladesh Jute Mills Association, said the jute sector has the potential to add value on its products like agriculture and apparel sectors. “Since the jute sector is not getting facilities like the apparel sector, the prospect of the sector to contribute largely to the country’s economy has been diminishing,” he said, urging the government to reduce tax at source from 0.60 percent to 0.30 percent in the next budget. NBR Chairman Md Nojubur Rahman presided over the meeting.