The Finance Division on Tuesday disbursed Tk 2,700 crore in cash incentive for remittance and exports, said officials.
Of the amount, Tk 1,000 crore would be paid at a 2 per cent rate for the remittance sent to the country during the July-September period of the 2021-22 fiscal year.
Of the rest Tk 1,700 crore, Tk 1,500 is for exports of readymade garments, frozen foods and leather goods for the same period.
The remaining incentive of Tk 200 crore would be paid for exports of jute and jute goods.
The fund was released in favour of the Bangladesh Bank that would distribute the cash incentives among the recipients.
Finance Division officials said that they had disbursed some Tk 4,000 crore in cash incentive for the remittance sent in the recently-concluded fiscal year.
The country received $24.78 billion in remittance in FY21, which was 36.1 per cent higher than $18.21 billion obtained in FY20.
Since FY20 the government has been providing a 2 per cent cash incentive for remittance.
According to the Finance Division, they disbursed more than Tk 5,000 crore in the just-concluded fiscal year to pay the cash incentive for RMG, frozen food, leather goods and jute and jute goods exports.
The country’s export earnings grew by 15.10 per cent to $38.76 billion in FY21, during the second year of the coronavirus pandemic, from $33.67 billion in FY20.
But the overall export income still stands $1.77 billion less than the pre-pandemic figure of $40.53 billion in FY19.
Readymade garment exports fetched $31.45 billion in FY21.
The revenue from exports of jute and jute goods stood at $1.16 billion in FY21 while the figure was $941.67 million for leather and leather goods in the same fiscal year.