The Ministry of Finance has released cash incentives of Tk1,000 crore for Bangladesh's export-oriented knitwear sector.

The ministry took the decision 11 days after receiving an application of Bangladesh Knitwear Manufacturers and Exporters Association's (BKMEA) for financial support for payment of salary and Eid bonus ahead of Eid-ul-Fitr.

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The request for cash assistance was made to the government on March 30 in a letter signed by the BKMEA president AKM Salim Osman.

The letter stated that if the financial assistance is not given, the export sector may be in extreme trouble over the payment of salary and bonus to the workers before Eid.

Bangladesh Bank has been instructed by the Ministry of Finance and the Comptroller General of Accounts to clear the amount of cash assistance.

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