Bangladesh Bank yesterday said all exporters irrespective of the products they were trading would be allowed a maximum 210 days to bring their earnings into the country due to the ongoing economic hardship resulting from the coronavirus pandemic. Earlier only exporters of readymade garments and textile sectors were allowed to avail the facility. The extension will remain effective until March next year, according to a central bank notice. Exporters have been facing problems in repatriating their receipts on time as per the central bank’s regulation as the global economy has been in dire straits. A good number of foreign buyers are now unable to make their payments against items they are importing from Bangladesh, creating a problem for the country’s exporters. Against this backdrop, the deadline for repatriating the export earnings for the readymade garments and textile sectors was extended from 120 days to 180 days on March 19. The central bank had initially said the facility would remain effective until September this year. On July 23, the deadline for the RMG and textiles sectors was extended by another 30 days, which would remain effective until March 2021.
