Additional 1% cash incentive on garment exports to continue
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How will the common people survive? 3 Covid-19 deaths in 24 hours, current positivity rate 4.99% A guide to making the next viral video essay Three ways a strong dollar impacts emerging markets Card Payment: Foreign currency transactions hit all-time high 9 injured in US gun violence in Cincinnati Dhaka mayors to get ministerial status; N'ganj, Ctg mayors of state ministers Tangail bus robbery: Mastermind behind 10 robberies in 6 months Remaking ‘Forrest Gump’ is like remaking ‘Mughal-e-Azam’: Aamir Khan ‘T20 is becoming more important than the 50-over format’ 7-yr-old runs to rail tracks while playing, train runs over Top 5 sea beaches in Cox’s Bazar Masud Rana Series: SC stays order of copyright to Sheikh Abdul Hakim Proposal to double launch fare unreasonable: Shipping secretary New political alliance formed with goal of “anti-govt movement”
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Budget 2022-23

Additional 1% cash incentive on garment exports to continue

Refayet Ullah Mirdha
Thu Jun 9, 2022 04:14 PM Last update on: Thu Jun 9, 2022 05:51 PM

The additional 1 per cent cash incentive on the export receipts of readymade garments would continue in the next fiscal year as the government looks to boost the shipment of clothing items.

Currently, garment exporters enjoy a 5 per cent cash incentive if apparel items are exported using locally procured raw materials like yarn and fabrics.

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The government gives another 4 per cent cash incentives if the goods are shipped to non-traditional markets, which include all export destinations except the EU, Canada and the US.

Finance Minister AHM Mustafa Kamal

6 challenges for Finance Minister

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Garment exporters have been enjoying the additional 1 per cent cash incentives in all countries for the last two years.

The government provides export incentives to 43 goods and services to boost their competitiveness.

In his budget proposal, the finance minister has also proposed for duty-free import of raw materials needed to produce coronavirus testing kits, masks, hand sanitisers, and personal protective equipment.

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5.6% inflation target set for FY2022-23

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Related topic
RMG Export / RMG Bangladesh / Readymade garments / garment exports / national budget 2022-23 / Bangladesh’s budget 2022-23 / Finance Minister AHM Mustafa Kamal
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