Regulatory Alerts2022-07-05
Added
FEPD Circular No. 11: Export incentive against export of Jute Diversified Products
The document mandates that food-grade bags, cloth, yarn, and twine classified as Jute Diversified Products are eligible for existing export incentives, provided they contain a minimum of 50% jute value as per specified criteria. This directive applies to pending and future applications submitted by authorized dealer banks or supervising firms from the date of issuance. All other applicable instructions regarding the payment of export incentives or cash assistance for jute products remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka.
Ref. No.------------------ FEPD Circular No. 11 Date: ------------------ To All Approved Dealers.
Dear Sir,
Reference is drawn to your attention to FEPD Circular No. 11, dated November 16, 1998; FEPD Circular No. 12, dated April 07, 2016; and FEPD Circular No. 35, dated September 22, 2019, regarding the subject mentioned above: Providing export incentive/cash assistance against the export of Jute Diversified Products.
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In accordance with the government's decision, it is informed that existing export incentives will be available for food-grade bags/cloth/yarn/twine (Jute Diversified Products) (excluding Hessian, Sacking, SBC, and 6 count and above jute yarn). In this regard, it is necessary to ensure the use of jute with a minimum value of 50% as Jute Diversified Products, in accordance with the instructions in serial number 7 of the table mentioned in the first paragraph of FEPD Circular No. 12, dated April 07, 2016, and FEPD Circular No. 35, dated September 22, 2019.
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The aforementioned instructions will be implemented for applications submitted after the date of issuance of this circular, including pending unprocessed applications at authorized dealer bank branches or supervising firms.
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All other applicable instructions of all relevant FEPD Circulars/Circular Letters regarding the payment of export incentive/cash assistance against the export of jute products will remain unchanged.
It is advised to inform all concerned parties about this matter.
Yours faithfully,
(Kazi Rafiqul Hasan) Director (FEPD) Phone: 9530123 Asharh 21, 1429 July 05, 2022