Use of modern technology: Cash assistance will be provided for the export of handmade products

Cash assistance will also be provided for the export of handmade products using modern technology. A single notification in this regard has been issued by the Foreign Exchange Policy Department of Bangladesh Bank on Thursday (June 18).
These are: There must be direct involvement of appropriate manual labor in the use of modern technology equipment in manufacturing activities. Must have registration with the supporting authority for the use of machinery and manual labor. This instruction will be applicable in case of shipping from today.

In all cases, the application for cash assistance against the export in question must be accompanied by a certificate from the association representing the relevant sector approved by the Ministry of Commerce. The applicable guidelines for other circulars issued in the case of cash assistance for export in question will remain unchanged.

It said, “As per the decision of the government, hand-made products (hogla, straw, sugarcane / coconut husk, tree leaves / shells, garments of garments, etc.) should be used for production in accordance with the prevailing national industrial policy. Can be used. However, there are some conditions in this case. They are: There must be direct involvement of appropriate manual labor in the use of modern technology in manufacturing activities. Must have registration with the concerned authority for the use of machinery and manual labor. In the case of shipping, this directive will be applicable from today (June 18).

“In all cases, the application for cash assistance against the export in question must be accompanied by a certificate from the association representing the relevant sector approved by the Ministry of Commerce.”

The circular states that in accordance with the instructions of FE Circular No. 11/1998, the conditions applicable to the jute mills in the public and private sectors against the respective exports.
Subsidy benefits are subject to compliance. On the other hand, as per FE Circular No. 12/2018, 50% of jute goods other than jute final products and jute yarn are exported.
If more valuable jute is used, it is considered as a diversified jute product.

It is to be noted that jute products with more than 50% value in jute products other than jute final products (Hesian, Seking and CBC) and jute yarn (yarn and twine)
If used, the product will be exported at a fixed rate as a diversified jute product, whether by hand or by machine. Applicants for subsidies in all cases
The organization must have an updated license under the Jute Act, 2018.

In all cases, the application for cash assistance against the export in question must be accompanied by a certificate from the association representing the relevant sector approved by the Ministry of Commerce. The applicable instructions of other circulars issued in respect of providing cash assistance for the export in question will remain unchanged.

Related posts

The Amazon dealers who sold up and became moguls

businesegoal

Corporate Communities: A Q&A with Flint Group

businesegoal

Bharat Petroleum chooses V.R.K. Gupta as CFO

businesegoal

Leave a Comment