Incentive planned for leather industry

The leather industry, the second largest export segment of Bangladesh, will be receiving incentives from the government, as proposed in the budget for 2017-18.

“I propose reduced rate of duties as capital machineries, on busbar trunking system and electrical panel imported by the industries of this sector, Minister Muhith said.

READ MORE: Tk 4tr budget with 7.4% growth target

Tax benefit is given on the raw materials needed for leather processing from the very beginning, Muhith said in his budget, the biggest ever amounting to Tk 4,00,266 crore.

“Our current development strategy is to increase industrial investment, to maximal utilisation of existing industrial productivity through proper protection and to make export industry more competitive through its multidimensional expansion,” he said.