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Bangladesh govt names RMG for cash incentives in FY'14
Jul '13
As in the past, readymade garments (RMG) are among the 14 export items chosen by the Bangladesh Government for subsidies and cash incentives.
The Foreign Exchange Policy Department (FEPD) of Bangladesh Bank (BB) has announced the rate ranging between 5 percent and 20 percent for the cash incentives to more than 150 products covered under the 14 categories, BSS reported.
As per the cash incentive programme, small and medium garment factories will get additional 5 percent subsidy, while 2 percent subsidy will be provided for new products and new market expansion, except USA, Canada and the EU.
The export-oriented textile and garment sector would get a 5 percent cash subsidy in lieu of customs bond and duty drawback.
The FEPD circular says the exporters would receive cash subsidy on the products against net repatriation of the freight on board (FOB) prices from July 1, 2013 to June 30, 2014.

Fibre2fashion News Desk - India

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