Additional export incentive for RMG sector likely to continue in FY22

Finance Minister AHM Mustafa Kamal has proposed to continue 1.0 per cent additional export incentive for the country's readymade garment (RMG) sector in the next fiscal year (FY22).

The government started providing an additional  1.0  per cent cash incentive along with other existing export incentives to the textiles and RMG  industry,  and as a  result,  the sector has been able to successfully deal with the pandemic fallout, he said while placing budget for the fiscal year of 2021-22.

As the incentive continued in the current fiscal year, the minister said, the textile and garment industry has rebounded and achieved the expected exports despite the challenges arising from the pandemic situation.

"For this reason,  I  propose to continue this additional export incentive at the rate of  1.0  per cent in the next financial year as well," he added.

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