Incentive for 43 products including RMG sector reduced

The government has reduced incentive for 43 export items including the readymade garments sector for aligning with its impending graduation from the Least Developed Country (LDC) status in 2026.

Bangladesh Bank (BB) issued a circular in this regard on Tuesday.

According to the circular, it will be effective from 1 January 2024 and will be valid till 30 June 2024.

The special incentive for the readymade garments sector has been scaled down from 1 percent to 0.5 percent.

This reduction extends to various sectors including jute and jute goods, leather and leather products, frozen fish, agro products, and more.