B Mirror Report: Exporters received a major boost ahead of Eid as Bangladesh Bank disbursed Tk 3,100 crore in overdue cash incentives for the export sector, with the readymade garment (RMG) industry receiving the largest share.

The central bank confirmed the development on Saturday, stating that all pending applications submitted up to April 30 of the current fiscal year have been settled.

According to Bangladesh Bank data, nearly 93.5 percent of the total incentive amount —around Tk 2,900 crore  was allocated to the country’s key export sector, the garment industry. The remaining amount was disbursed against exports of jute and jute-based products.

Officials at the central bank said the quick release of incentive payments would improve exporters’ liquidity conditions and help maintain competitiveness in the global market. They added that the support would also play an important role in sustaining export growth.

The government has been providing cash incentives to exporters as part of efforts to increase export earnings and strengthen foreign currency inflows. Exporters receive the incentives under specific policy guidelines against their export proceeds.

Industry insiders noted that delays in processing cash incentive claims had previously caused frustration among businesses. However, they said the settlement of pending applications during the current fiscal year has eased pressure on exporters and could encourage further investment and production in export-oriented industries.