"The decision to issue an SRO was taken at a recent inter-ministerial meeting," said a high official of the Ministry of Commerce.

Although the new export policy was to be effective from July 1 this year, it is not done as all other issues relating to the policy have not yet been finalised, sources said.

"As the exporters are not meticulously abiding by the guidelines of the last policy, the SRO is being issued to ensure its implementation," the official said.

At present, the new policy is under scrutiny of the cabinet committee on economic affairs and will be finalised by August this year.

Earlier, a total of 52 export-oriented organisations placed their 357 recommendations to the Export Promotion Bureau (EPB) for formulating the export policy and the export promotional agency sent proposals along with suggestions from leading exporters to the commerce ministry two months ago.

The ministry has also taken advices from trade bodies, banks, and Bangladesh Export Processing Zones Authority, National Board of Revenue and exporters concerned while formulating the policy, sources said.

Specialised export-import bank, withdrawal of all types of value added tax from utility services, tax holidays, lower rate credit facility for export-oriented industries were the main recommendations received by the commerce ministry.

The ministry seeks sorting out the trade deficit problems that are on the rise year after year, according to the sources.

"We are formulating the policy taking into consideration the stakeholders' recommendations'," said the official of the ministry without elaborating any possible changes or additions in the policy.

"We are trying to make an effective policy for the next three years, as our export performance has been improving significantly over the last few years", he said, making an assurance to consider all the suggestions needed to augment Bangladesh's exports.