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Tk875 crore export subsidy released

  • Published at 11:34 pm July 10th, 2014

The government has released Tk875 crore of cash subsidy on exports, specially jute and readymade garments, to facilitate payment of salaries and bonus before Eid.

Leaders of readymade garments exporters’ associations have earlier demanded release of the outstanding cash subsidy so they could pay the workers’ dues.

The amount released would, however, be more than half of around Tk1,500 crore the associations demanded.

The finance ministry yesterday disbursed the amount – Tk734 crore for RMG exports and Tk137 crore for jute and jute goods – against exports during October to December period of last year.

The subsidy was disbursed in accordance with Bangladesh Bank requisition based on reports by different commercial banks.

Earlier, garments exporters had 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.

Meanwhile, different labour organizations already warned of unrest unless their salaries and allowances are not paid before the Eid.