Now light engineering products exporters can apply for incentives only after shipment
Exporters of light engineering products such as bicycles and generators will have to wait till shipment to apply for their export incentives, the Bangladesh Bank said in a circular on Wednesday.
According to its earlier instructions, businesses could apply for the incentives only if they had received the export prices in advance before the goods were shipped.
A senior official at the central bank said that as per previous instructions, exporters could apply for incentives within 180 days from the date of receipt of the export price advance.
In this way, exporters would often be eligible for incentive money before the shipment of export goods.
According to the new instructions issued by the Foreign Exchange Policy Department of the Bangladesh Bank, exporters can apply for the incentives within 180 days from the date of shipment of the products.
