Export subsidy to be applicable for use of 50pc jute: BB

Export subsidy will be applicable at the prescribed rate for use of 50 per cent jute in any product, reports BSS.

Bangladesh Bank (BB) issued a circular to this end on Thursday.

As per the circular, if more than 50 per cent of the value of jute products is used in products other than jute finishing products (Hesian, Seking and CBC) and jute yarn (yarn and twine), the product will be diversified jute product by any means, whether by hand or by machine.

In all cases, the subsidy applicant must have an updated license under the Jute Act, 2017, the circular added.