Economic Reporter :
Business Initiative Leading Development (BUILD) on Tuesday hailed the Bangladesh Bank (BB) policy for not to process the application to release cash incentives until the entry of export earning to Authorized Dealer (AD) Bank.
Foreign Exchange Policy Department of the central bank has issued a circular on Monday, which instructed the head office or principal office of AD Banks for not to process the application, to release cash incentive, until the entry of export earning reaches Authorized Dealer Bank.
BUILD conducted a brief research and prepared a policy paper namely “Situation Analysis of Constraints and amp Policy Support Needs for Export Subsidy or Cash Incentives for the Exporters” which was submitted to the 6th Meeting of the Trade and Investment Working Committee at the Ministry of Commerce on November 13 last year and the 12th PSDPCC Meeting at Prime Minister’s Office on February 10 this year.
BUILD recommended that BB should take initiative to ensure the entry of export earning to Authorized Dealer Banks before releasing cash incentive against export earnings.
Ministry of Commerce has already formed a committee to prepare a structured guideline to provide cash incentive/export subsidy.
