0.25pc cash incentive announced for RMG exports

Readymade garment (RMG) industries will get an additional cash incentive on exports. A Bangladesh Bank circular issued on Wednesday said apparel makers outside the EPZs (Export Processing Zones) will get a 0.25 per cent cash incentive on their FOB (free on board) prices. FOB requires the seller to deliver goods on board a buyer-designated vessel. The seller's delivery obligation ends once the goods are on the ship. When used in trade terms, 'free' means the seller must deliver the goods to a place named for transfer to a carrier. The new incentive means exporters will get 0.25 Tk for exports of every Tk 100, according to bdnres24.com.