The Bangladesh Bank (BB) has relaxed one per cent cash incentive provision for apparel and textile export.

The bank issued a circular to its authorised dealers that made current beneficiaries of duty draw-back facility or bonded warehouse facility eligible for the incentive. The bank earlier excluded the beneficiaries from the 1 per cent incentive scheme.

The fall in export earnings in the first half of the current fiscal prompted the central bank to come up with the fresh relaxation, Bangla media reports quoted the bank as saying.

The country’s export earnings in the first half of this fiscal fell by 5.84 per cent to $19.30 billion from $20.50 billion in the same period of the previous fiscal.

Published On : 08-01-2020

Source : Fibre 2 Fashion