Press briefing of Cabinet Decision taken on 2022-03-07

Implementation of an Incentive Scheme based on Progress of the Exports

- It has been planed to implement a scheme to encourage exporters with a view to minimizing difficulties encountered by the them such as high inflation, severe foreign exchange deficit, restrictions on imports of raw materials and high operating cost and encouraging exporters to make progress in this year beyond the export performance achieved in the last year. It is anticipated to earn an additional income of US$ 5,500 million in the year 2022 through the implementation of the proposed scheme than the export income in the year 2021. Accordingly, the proposal made by the Minister of Trade to pay an incentive of Rs 30/- per dollar earned in excess to the corresponding quarter of the previous year, to the institutions which have achieved at least 10% export growth compared to the previous corresponding quarter, under the proposed scheme, was approved by the Cabinet.