Bangladesh Offers 10 Billion Tucker Cash Incentives For Garment Exporters.

2010/8/16 10:30:00 47

according to

The People's Republic of Bangladesh

Officials revealed that the government would provide 10 billion Taka cash incentives to its main exporters, the first form of phased awards in the current financial year.

At the end of last month, the central bank received a letter from the Ministry of Finance asking the bank to pay cash incentives for exporters.

jute

Exporters will receive about 1 billion 500 million Taka cash awards, and the remaining 8 billion 500 million TAC cards will be shared by other industries, such as home use.

textile

Leather products, handicrafts and other industries.

Finance minister AMAMuhith announced in the recent budget that industries affected by the recession will benefit from a 20 billion Taka stimulus package.

In addition, the government has announced payment of cash incentives to major exporters to help them maintain their competitiveness in the global market.

In addition, 5% of the cash allowance will be given for domestic textiles and garments, and 17.5% of cash subsidies for jute products. These are part of government incentives.

Although large exporters and agents worry that exports will be affected by the global recession, the government has set ambitious export targets for the fiscal year, namely, exports of $17 billion 800 million.

To achieve this goal, exports must grow by 14% or more than 2 billion dollars on the basis of the export of US $16 billion 200 million in the 2009-10 fiscal year.