Govt approves subsidy, power bill rebate for fisheries and livestock sector

Bangla Press Desk:  The government has approved a policy decision to provide a 20% rebate on electricity bills for marginal-level fish farms, hatcheries, and livestock and poultry farms, aiming to reduce production costs and boost output in the fisheries and livestock sector.

As part of its broader efforts to increase agricultural production, encourage agricultural exports, and promote agro-based industries, the government currently offers a 20% electricity rebate to 16 sectors under its power rebate policy, said a press release.

Under this framework, the Ministry of Fisheries and Livestock has secured a policy decision from the Finance Division to allocate Tk100 crore in subsidies for four key sub-sectors.

The subsidy will cover industries involved in the production of animal and poultry feed, fish feed manufacturing, the poultry industry, and dairy processing industries.

The dairy segment includes activities such as milk pasteurisation, powdered milk production, ice cream, condensed milk, sweets, cheese, ghee, butter, chocolate, yogurt, and other milk-based products.

Officials expect that the initiative will significantly lower production costs, encourage greater investment in the sector, and strengthen the country’s capacity to produce safe and high-quality animal protein.

The move is also seen as a step toward greater self-sufficiency in fisheries and livestock production while supporting the livelihoods of farmers and hatchery owners.

BP/SP