Bangladeshi Government to release fourth installment of cash incentives for exporters

Bangladesh’s Ministry of Finance recently advised the Chief Accounts Officer of the Finance Division to release funds totalling US $ 1.7 million in favour of the Central Bank, Bangladesh Bank, to hand over the cash incentives to the exporters for a period from April 2015 to July 2015. This will be the last and fourth tranche of cash incentives for major exporters for the current fiscal year by the Government. The local exporters can seek the cash by applying to Bangladesh Bank through their respective banks. The instalment of cash incentives will be given to the exporters against their exports during the period. The sectors enjoying the benefits include apparel-manufacturing industries. The small and medium garment factories will get an additional 5 per cent subsidy, while 2 per cent will be provided for new products and new market expansion except the US, Canada and the EU.