Govt proposes 2 pc incentives on remittance inflow

Bangladesh government proposed two percent incentives to be given on the intake of remittance from the expatriates’ workers by encouraging them to send the remittances through legal channels.

Finance minister AHM Mustafa Kamal on Thursday proposed Tk 3,060 crore in the proposed budget with hope that the incentives would significantly increase the remittance flow through  legal  channels  and discourage the ‘hundi’ business.

Bangladesh has received remittance US$ 15 billion in 2018 while US$ 4.5 in FY 2005-06 showed a 3 times growth.

Migration experts expressed moderate satisfaction and demanded more incentives for the remittance senders as they were keeping the country’s economy vibrant.

WARBE Development Foundation chairman Syed Saiful Haque said that it was appreciating that the government proposed a new allocation for remitance senders.

But he said that the incentives on remittance should be given at least three per cent as the government hinted it earlier.

OKUP chairman Shakirul Islam lauded the government for allocating incentives on remittance inflow for the first time in the country.

He demanded revised budget at least 2 per cent of total remittance for the country’s migrant workers.  

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