The central bank of Bangladesh, the Bangladesh Bank (BB), recently gave another 45 days to exporters, who are eligible for cash assistance against their exports, so as to apply to get the benefits for the fiscal year of 2020-2021.
According to reports, a circular issued in this direction by the central bank has asked exporters who failed to apply within the stipulated deadline to apply as many of them were unable to do so amidst the coronavirus outbreak even as exporters of products under 38 categories are, reportedly, eligible to receive subsidy at variable rates from the Government, while jute and apparel exporters would have to procure from the respective trade bodies representing the two sectors, certificate against the export claim, to apply for the same.
Reports further added that as per the rules, apparel exporters currently enjoy 1 per cent additional special incentive in addition to the 4 per cent cash incentive against export of new textile and garment products and expanding export of textile items to new markets (i.e., markets other than the European Union, United States and Canada) even as small and medium industries of the textile sector, export-oriented local textiles, exporters of apparel products to the eurozone apart from others receive the cash incentive at different rates.
