Incentives for exports halved on 43 products from today

Business Reporet :
The Bangladesh Bank (BB) has reduced incentives on exports by up to 50% for 43 products from 1 July.
In a circular published today (30 June), incentives to all sectors, including readymade garments, leather, and agriculture have been further reduced in the new financial year, starting tomorrow.
The incentives were cut down earlier in February as well.
A central bank circular had said the reduction was made as Bangladesh is going to graduate from the list of least developed countries (LDCs) in 2026.
No incentives would be provided for the transition from LDCs.
A withdrawal of incentives after the LDC transition may pose challenges to the export sector. As a result, it has been decided to slightly reduce its rates in various sectors, said the Bangladesh Bank.