FEPD Circular No. 36: Export subsidy against export of Pharmaceuticals goods

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.
Ref. No. FEPD Circular No. 36 Date: ------------------- All Approved Dealers of Foreign Exchange Transactions.

Dear Sir,

Regarding the provision of incentives/cash assistance for the export of Pharmaceutical products.

Reference is invited to FEPD Circular No. 33, dated December 11, 2018, issued on the subject mentioned above.

2. It is noted that Annexure 'C' (paragraphs (g) and (h)) attached to the aforementioned circular instructs the submission of copies of credit documents/letters of credit/back-to-back letters of credit/agreements regarding local and imported inputs used in the production of exported goods. Considering the nature of pharmaceutical product production management, it is hereby informed that, in accordance with government decisions, the import invoices/letters of credit/lists of all inputs used in the production process against the relevant export, along with the approved receipts/annexures from the Directorate General of Drug Administration, may be submitted with the application, and the value of the used inputs will be considered non-verifiable.

3. Furthermore, for those exported goods against which subsidy applications could not be submitted prior to the date of issuance of the aforementioned circular during the 2018-2019 fiscal year, applications may be submitted against such exports within 2 (two) months from the date of issuance of this circular.

4. All other applicable instructions regarding the payment of subsidies in the pharmaceutical product sector will remain unchanged.

It is requested to inform all concerned parties regarding this matter.

Yours faithfully,
(Mohammad Khurshid Wahab)
General Manager
Phone: 9530123
24 Ashwin 1426
24 September 2019