Govt declares disbursement of its last installment of cash incentive for exporters

The Bangladesh government had announced cash incentives of Tk 25.92 billion to 19 export products for the current fiscal year to promote sales overseas and to encourage exporters to explore new potential market for Bangladeshi products. The last or fourth installment of cash incentive amounting to Tk 6.48 billion has been released for disbursement among major exporters for the fiscal year (FY) 2013-14.

The central bank has been directed by Ministry of Finance (MoF) this Thursday to start with the disbursement of incentive for the period of April to June 2014.

The jute and jute goods sector will get Tk 945 million out of the total amount in the last or fourth instalment. And the rest of the exporters will get Tk 5.53 billion while the total cash incentive in these sectors are Tk 22.14 billion in the FY 2013-14.

Jute yarn exporters will be getting 7.50 percent while exports from small and medium industries in textile sector will get an additional incentive of 5 percent, while textile exporters who have exported their products outside the US, Canada and EU overseas markets will receive 2.0 percent for having explored new overseas markets.

While, the home textile sector to get the cash incentive of 5.0 percent.

The incentives will be provided for products shipped within Jul 1, 2011 to Jun 30, 2012.