Govt releases addl Tk 21b in cash incentives for local exporters

The government has released a sum of Tk 21 billion for the payment of cash incentives to local exporters on their export earnings, officials said.

It is the additional fund of final instalment or fourth instalment of cash incentives for April-June period of the current fiscal year (FY) 2021-2022.

Export oriented sectors, including readymade garment (RMG), jute and jute products, will get the amount, according to an official.

Earlier, the government released Tk 23 billion for the payment of cash incentives of the instalment. The 21 billion is the additional fund of the fourth instalment.

A special 1.0 percent cash incentive support fund for the RMG industry has also been included in the instalment.

Currently, the government provides up to 20 percent cash subsidy on 38 products against the export.

An official of the office of the Controller General of Accounts (CGA) said the instalment fund had been released in favour of the central bank.

The CGA has issued debit authority over the released fund.