The International Monetary Fund or IMF has also recently recommended economic reforms to reduce incentivesThe government is looking for alternative methods to boost export earnings in specific sectors without relying solely on incentives. The upcoming export policy from the commerce ministry, spanning from 2024 to 2027, will address the possibility of introducing non-incentive-based policy support. The Cabinet Committee on Economic Affairs at the Secretariat approved the draft of the Export Policy (2024-2027) at a meeting on Wednesday. In the budget for the current fiscal year, the government allocated Tk 840 billion for subsidies and Tk 152.25 billion for incentives. However, the International Monetary Fund or IMF has recently recommended economic reforms to reduce incentives.

Source: bd News24 May 15, 2024 20:48 UTC