With the department refusing to take more applications, the industrialists will not get cash subsidy for their exports in the last year.
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The government has canceled the cash subsidy given to exports. On Thursday, the Department of Industries issued a notification and informed that the application will not be accepted in the current financial year 2082/83.
According to the instructions of the Ministry of Industry, Commerce and Supply, the department has also requested all businessmen not to submit their self-declaration details for the financial year 2081/82 to the Department of Industry. Thus, the department has refused to accept further applications, and the industrialists will not get the cash subsidy for their exports in the last year.
Previously, there was a provision for exporters to self-declare and submit an application to the department within three months of the end of the financial year. According to this arrangement, exporters had to submit an application within October to get subsidy for the last year 2081/82.
Since the government did not allocate enough budget for cash subsidies for exports this year, the Ministry of Finance instructed the relevant ministries to abolish them.
