Parliament has approved a supplementary budget of Tk 139.87 billion to authorise additional expenditures by ministries and divisions for the current fiscal year ending Jun 30.
Finance Minister AHM Mustafa Kamal proposed to offer tax exemption, subject to certain conditions, for ten years to industries engaged in processing fruits and vegetables, producing milk, dairy products and baby food entirely from locally grown agricultural products, and manufacturing of agricultural machineries during the budget proposal he presented in the parliament on Thursday.
“At this time of free trade, it is possible to take a substantial share of the global export market through value addition and diversification of agricultural products.”
The people who will invest in the sector between Jul 1, 2021, and Jun 30, 2030, will get the exemption, the officials of the National Board of Revenue said.