- Guard polling centres instead of boycotting election
- Paul Allen: Microsoft co-founder and billionaire dies aged 65
- Asia stocks at 17-month low as China lets yuan slip
- UK announces $22.25m support for Rohingya refugees
- IMF forecasts 7.1pc economic growth for Bangladesh in 2019
- Bangladesh ‘least committed’ to cut rich-poor gap: Oxfam
- Bhashani Univ suspends 5 BCL leaders ‘for misbehaving with teachers’
- NKorea hackers broke into banks, tried to take US$1.1b
- Oil spill threatens Meghna; unheeded for 5 days
- Haiti quake death toll rises to 15, and 300 injured
Incentive for local heavy industries to continue
Domestic heavy industries manufacturing refrigerators, freezers and air-conditioners will continue to enjoy incentive in the new fiscal year.
“VAT incentive has been given to domestic heavy industries manufacturing refrigerators, freezers and air-conditioners up to 30 June, 2016. I propose extending this VAT exemption facility up to 30 June, 2017 as an incentive for the industry,” Finance Minister AMA Muhith said in his budget speech in parliament on Thursday.
He, however, said these facilities will not be extended to local motorcycle industries.