BB clarifies cash benefits for garment exporters
All garment exporters operating outside export processing zones are entitled to an additional 0.25 percent cash incentive on prices of exports, announced by the central bank in June, Bangladesh Bank said yesterday.
The 0.25 percent incentive comes in addition to 5 percent cash benefits currently available for all garment exporters.
The regulator issued a notice yesterday to clarify the business community's confusion over entitlement criteria.
“We saw that bankers and garment businesses were confused over who qualifies to get the additional cash incentive, so we clarified,” Zakir Hossain Chowdhury, deputy general manager of BB's foreign exchange policy department, told The Daily Star.
After the hike in June, garment businesses outside EPZs will get 5.25 percent cash incentives.
An additional 3 percent cash incentive is applicable to the exporters who sell goods to new markets that exclude the countries outside Europe, United States and Canada.
Comments