The National Board of Revenue (NBR) has extended reduced tax benefits for jute goods makers for three years until fiscal year (FY) 2025-26, according to a notification issued recently.
The use of jute sacks to package 19 commodities remains a far cry 13 years past the enactment of the Mandatory Jute Packaging Act 2010. The law was enacted to protect the interests of jute growers and millers and limit the use of environmentally harmful plastic bags.
The government has removed the condition for raw jute exporters of taking prior approval from the commerce ministry before shipment, according to a notice issued by Export Promotion Bureau (EPB) yesterday.