Tk 100 crore subsidy okayed for fisheries, livestock sector

The interim government has approved a Tk 100 crore subsidy package for the fisheries and livestock sector 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 today.

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, it said.

Of these, the finance wing of the Ministry of Fisheries and Livestock has earmarked Tk 100 crore as subsidy support for four priority subsectors, it added.

The subsidy coverage includes 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 press release also stated that the initiative is expected to reduce input costs, encourage new investment, and improve competitiveness across the value chain.

The government also expects the measures 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.