No cash incentive for exporting shoe-bag made of synthetic-fabrics mix under bond facility
Currently, the government offers an 8% incentive on such exports
File photo of Bangladesh Bank/BSS
Exporters will no longer enjoy any cash incentive for shoes and bags made of a mixture of synthetic materials and fabrics under the bond and duty drawback facilities, the central bank said today (31 October).
The changes will come into effect for shipped goods from 1 February 2024, according to a circular issued by Bangladesh Bank's Foreign Exchange Policy Department (FEPD).
Explaining the changes, a senior central bank official said exporters not availing the bond and duty drawback facilities facility will be considered eligible for the incentive.
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Currently, the government offers an 8% incentive on such exports.
