February 6, 2003	Thursday	Zul Hijjah 4,1423

ISLAMABAD, Feb 5: The Central Board of Revenue (CBR) has paid Rs38.615 billion refund/ rebate to exporters during July-Jan 2002-03 against Rs45.371 billion during the same period last year, showing a decline of 14.89 per cent.

Official sources attributed the decline in refund/rebate to low drawback rates this year. The CBR has claimed to have saved around Rs9 billion to the national exchequer due to low drawback rates, the sources added.

Statistics made available to Dawn showed that the CBR has refunded Rs26.619 billion to exporters under the head of sales tax during the period under review against Rs20.2 billion the same period of last year, showing an increase of 5.8 per cent.

The payment of rebate, however, decreased by 40.6 per cent to Rs11.996 billion against Rs20.2 billion the previous year.

The sources further said that the refund/rebate withheld during the period would be released in the next month.

They said that delay in refund to some exporters was occurred mainly due to introduction of STARR — an automated refund system — and new refund rules.