United News of Bangladesh

The government has approved a Tk 100 crore subsidy and a 20 percent rebate on electricity bills for marginal-level fish farms, hatcheries and livestock, and poultry farms to reduce production costs and stimulate investment in the sector. The Ministry of Fisheries and Livestock said on Monday that the decision was taken following a directive issued by the finance ministry on January 22. Under the existing electricity rebate policy, a 20-percent rebate is being provided to 16 sectors to boost agricultural production, encourage agro-based exports and support industrial growth. Of these, four sectors under the Ministry of Fisheries and Livestock have been included in the subsidy scheme, with the Finance Division approving a Tk 100 crore allocation in principle. The sectors brought under the facility include animal and poultry feed manufacturing, fish feed production, the poultry industry, and dairy processing industries—such as milk pasteurisation, powdered milk, ice cream, condensed milk, sweets, cheese, ghee, butter, chocolate and yoghurt. The ministry expects the initiative to significantly lower production costs, attract greater investment and strengthen the country’s capacity to produce safe and quality animal protein. According to the directive, the Power Division will annually review rebate claims submitted by electricity distribution companies and send proposals for the four relevant sectors to the Ministry of Fisheries and Livestock, while proposals for the remaining 12 sectors will be sent to the Ministry of Agriculture. After verifying the eligibility of rebate-receiving sectors, the two ministries will forward fund release proposals to the Finance Division. Funds will be released to electricity distribution companies on a half-yearly basis. The second-half release will be subject to completion of audits, and rebate-receiving sectors must be clearly mentioned in audit reports. A draft policy for selecting eligible consumers will also require prior approval from the Finance Division. Each beneficiary must have a separate electricity line and meter for the relevant sector, and the rebate amount cannot be used for any other purpose. Any violation will make the concerned parties liable, the finance ministry cautioned.