Pharma product exporters to get cash incentive easily

From now on, pharmaceutical product exporters could get cash incentive by providing two types of information.

Bangladesh Bank issued a circular in this regard on Wednesday.  

Cash incentive could be received by applying with certification from the Directorate General of Drug Administration along with attaching invoice of raw materials import or LC (Letter of credits) or Block List documents. 

In the past, exporters had to provide various information to avail such benefit. Pharmaceutical product exporters had to provide around 15 documents including exported products handling bill and freight charge bill.

Cash incentive for the exporters has become easier now, an official of Foreign Exchange Policy Department at Bangladesh Bank told The Business Standard. 

Similar types of imported raw materials are being used in producing different products, the official said. 

As a result, it was difficult to estimate cash incentive in spite of information being provided by exporters regarding imported raw materials, he said.

From now on, accomplishing these matters will be easier, he added.  

The government provides 10 percent cash incentive against pharmaceutical products export. 

Pharmaceutical product exporters, who did not apply to get cash incentive for the fiscal year 2018-19 before circular, are requested to submit their applications within two months.