Incentives for remittances not increasing: Finance Minister

Finance Minister AHM Mustafa Kamal has said that the government has no plans to increase the rate of incentives for remittances sent legally to expatriates. The minister told reporters in an online briefing after the Economic Procurement Committee meeting on Wednesday (August 4th).

Regarding the Bangladesh Bank’s recommendation to increase the incentive for those who send less than 500 dollars in remittances by 1 percent, the Finance Minister said, “I am not increasing it at the moment. I think 2% incentive is right. In the case of incentives, we will see if we can create new fields in the revenue area. I will try to increase its range as much as possible. Now we are not thinking of increasing incentives. The rate of incentives in remittances is being given the same. Some people say that those who have low income should increase their incentives, but we do not have such thoughts. Anyone who earns money will be motivated to send it legally. ‘

The finance minister added that remittances were unusually high last year. This amount has decreased somewhat this year. However, this problem will be cut.

Sunbd/NJ