Govt set to release cash incentives for exporters

FT ONLINE

The government is set to release a sum of Tk 11.05 billion in favour of the Bangladesh Bank for the payment of cash incentives/subsidy to local exporters, officials said.

It will be the last (fourth) instalment of cash incentives for FY 2017-18, according to the finance division.

A high official of the finance ministry said: "We have received a request from the central bank to release the fourth tranche of cash incentive/subsidy. We have decided to release the money soon."

"A sum of Tk 26.15 billion is needed immediately to pay the outstanding cash incentive/subsidy. Of the amount, Tk 1.15 billion will go to the jute sector while Tk 25 billion to other sectors," an official of the central bank said.