Fisheries, livestock get Tk 100cr subsidy

The interim government has approved a Tk 100 crore subsidy package for the fisheries and livestock sectors and decided to extend a 20 percent rebate on electricity bills to farmers and hatcheries, aiming to cut production costs and support agro-based industries.

The policy decision brings marginal fish farms, hatcheries, and cattle and poultry farms under the electricity rebate framework, according to a press release issued yesterday.

The rebate will apply to electricity consumption by eligible agricultural producers and related processing units.

At present, a 20 percent electricity rebate is provided to 16 sectors under the government’s electricity rebate policy to promote agricultural production, exports, and industrial growth, the release adds.

Of these, the finance wing of the Ministry of Fisheries and Livestock has earmarked Tk 100 crore as subsidy support for four priority subsectors: livestock and poultry feed manufacturing, fish feed production, the poultry industry, and the dairy processing industry.

Dairy processing activities eligible for support include milk pasteurisation, powdered milk, ice cream, condensed milk, desserts, cheese, ghee, butter, chocolate, and yoghurt, among others, it mentioned.

The government anticipates that the initiative will lead to reduced input costs, encourage new investment, and improve competitiveness across the value chain.

As per the press release, the measures are also expected to contribute to greater self-sufficiency in the production of safe and quality animal protein, while supporting employment and export potential in agro-processing industries.