Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has extended the time limit by one month for textile millers to submit applications seeking cash incentive.
The Bangladesh Bank (BB) issued a directive in this connection on Wednesday and asked the commercial banks to follow the latest instruction relating to cash incentive for textile millers.
Under the latest directive, the owners of the textile mills would be allowed to submit applications for cash incentive in 30 days from the "issuing date of this circular".
Responding to a request of Bangladesh Textile Mills Association (BTMA), BB on November 2, 2011, announced that all spinning, weaving, dyeing and finishing sections of textile sector that imported cotton from August 2010 to March 2011 would get special 5.0 percent cash incentive in addition to their other incentives.
The incentive was declared to offset the losses incurred by the millers following price hike of cotton in global market during period.
BBN/SSR/AD-03Jan13-9:55 pm (BST)
