• Monday, Jan 27, 2020
  • Last Update : 02:50 pm

Officials asked to release cash subsidy against RMG exports

  • Published at 06:18 pm July 8th, 2014

Readymade garment exporters have sought disbursement of cash subsidy within July 10 so they can pay the workers’ salary ahead of Eid-ul-Fitr and avert possible labour unrest.

BKMEA Acting President Hatem Ali sent a request letter to Finance Minister AMA Muhith last week, seeking immediate disbursement of the 5% cash subsidy on exports.

In response, the minister asked the officials to “take immediate action” in this regard.

According to the BKMEA letter, the garment factories are facing fund shortage ahead of eid due to payment of salaries at an increased rate.

Now, they want getting released the cash subsidy of around Tk300 crore remained due for the just out fiscal year.

For 2014-15 fiscal year , the government has allocated Tk2,950 crore for cash subsidy against exports by garment exporters as compared to Tk2,214 crore last fiscal year.

On July 17 last year, the government had last disbursed the cash subsidy.

In the first quarter of a financial year, the finance division usually disburses one fourth of allocation.