Govt releases Tk 10 billion incentives for knitwear sector

The Ministry of Finance has released cash incentives of Tk 10 billion (1,000 crore) for the export-oriented knitwear sector, reports UNB.

The ministry took the decision 11 days after receiving an application from Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) for financial support for payment of salary and Eid bonus ahead of Eid-ul-Fitr.

The request for cash assistance was made to the government on March 30 in a letter signed by the BKMEA President AKM Salim Osman.

The letter stated that if the financial assistance is not given, the export sector may be in extreme trouble over the payment of salary and bonus to the workers before Eid.