Prime Minister Sheikh Hasina announced the continuation of incentives in the leather sector for at least five more years aimed at achieving the desired export target of the leather and footwear industry, reports BSS.

“The incentive in the leather sector will be continued for at least five more years with a view to achieving the desired export target from the leather and footwear industry,” she said on Wednesday (Oct 30).

The prime minister was addressing while inaugurating the third edition of three-day Bangladesh Leather Footwear and Leathergoods International Sourcing Show (BLLISS), 2019 at Bangabandhu International Conference Centre (BICC).

Noting that as part of export diversification, the leather sector is being defined as the priority one in the economy and National Industrial Development Strategy, she said: “Our government, in its last two tenures, has taken various initiatives such as giving policy support and incentives for the development of the leather and footwear industry.”

“Due to the initiatives taken by her government, 82 percent of foreign currency is coming from the export of leather and footwear industry products as factories in this sector is mushrooming alongside increasing the interest of investing money to this end,” she continued.

She, however, mentioned that the lion share of foreign currency would come from the export of leathers as a raw material a decade ago.

Commerce Minister Tipu Munshi, Chairman of it's Parliamentary Standing Committee Tofail Ahmed, PM’s Private Industry and Investment Adviser Salman Fazlur Rahman, Commerce Ministry Secretary Dr Md Jafar Uddin and LFMEAB President Saiful Islam spoke on the occasion.