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The government has released Tk 2.5 billion in cash incentives for the country's exporters, marking the fourth and final installment of the export subsidy allocated for the current fiscal year (FY 2024-25).
The Finance Division under the Ministry of Finance issued an official order regarding the disbursement on May 29.
As in previous cases, the incentive comes with specific conditions. The funds must be distributed to eligible export sectors through designated banks.
Besides, the banks concerned are not entitled to use the fund for other purposes, according to the order.
The order also warned that legal action would be taken against banks or exporters found to be non-compliant with the existing rules and provisions. The Bangladesh Bank (BB) will provide the incentives to the respective banks as per their requirements for disbursing the same among the eligible exporters.
Certain export-oriented sectors such as ready-made garment, frozen shrimp and other fish, leather items, jute and jute products are now entitled to get such incentives.
Earlier, the government reduced the rates of cash incentives against exports of all 43 categories of items by up to 50 per cent for fiscal year 2024-25.
rezamumu@gmai.com