The government has decided to increase its financial assistance for frozen shrimp exporters, as the business did well in the first three months of this year.
Bangladesh Bank on Thursday issued a notice, informing commercial banks of the government’s decision.
“The financial assistance in cash for frozen shrimp export sector for 2013-14 fiscal year has been fixed at 10 percent by raising it from 7.50 percent as per the government decision,” said the government notification.
According to the Export Promotion Bureau, over $ 0.45 billion worth of shrimps was exported during 2012-13 fiscal. This year, the export target stands at almost $0.48 billion.
The business has seen a tremendous increase in the first three months (Jul-Sep) of the current fiscal. A total of over $ 0.17 billion shrimp was exported against a target of over $ 0.11 billion during the period.
Central bank officials said shrimp farmers were being denied their legitimate price due to global recession and low price in the international market.
The government has taken the decision to increase its financial assistance to ensure that farmers got the legitimate price of their labour, they added.
Source: bdnews24
