Addl cash incentive criteria for small and medium apparel factories revised

Staff Correspondent | Published: 00:00, Jan 23,2020

 
 

The Bangladesh Bank on Wednesday clarified that the apparel sector small and medium enterprises, which would fail to export goods in a fiscal year, would not be eligible for cash incentives in the immediate next fiscal year.

The central bank on the day issued a circular to make it clear which apparel entities would be eligible for cash incentives.

As per the BB rules, an apparel entity, not owned by  any large industry and having export volume worth up to $5 million in a particular fiscal year, would be considered as small and medium apparel industry.

The small and medium apparel industries, including knit, woven and sweater, get 4 per cent additional cash incentives.

A garment factory gets up to 12 per cent cash incentives and 1 per cent special incentive against export proceeds.

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