MoF may release Tk 26b cash incentives

The ministry of finance (MoF) has initiated the process of releasing Tk 26 billion as cash incentives for local exporters, officials said.   
Bangladesh Bank (BB) has requested the government to release Tk 26 billion against exports for meeting outstanding cash incentive/subsidy of the banks, they said.
The central bank has recently sent a letter to the MoF, asking for release of the funds.
The government has already released TK 26.25 billion as cash incentive/subsidy in favour of the BB in the fiscal year (FY) 2014-15, BB data showed. The funds released by the government were provided to the banks as outstanding cash incentive/subsidy.
"The MoF has recently informed the central bank that release of Tk 13.75 billion as cash incentive/subsidy in four instalments is in the process. A letter in this regard was sent to the MoF on April 13 last," a BB official said.   
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