March 8, 2003	Saturday	Muharram 4, 1424

ISLAMABAD, March 7: The payment of refund/rebate to exporters has declined by more than 10.84 per cent to Rs44.452 billion during July-Feb 2002-03 against Rs49.861 billion last year, official statistics released by Central Board of Revenue (CBR) on Friday said.

However, the sales tax refund, when taken separately, shows 11.42 per cent increase to Rs31.279 billion in eight months against Rs28.071 billion during the same period last year.

The payment of customs rebate to exporters declined by 39.5pc to Rs13.173bn during July-Feb period against Rs21.79 billion during the same period last year.

According to the statistics, the income tax refund stood at Rs8.217 billion during the same period against Rs8.128 billion the same period last year, showing an increase of 1.1 per cent.

The exporters have recently approached the commerce ministry and the CBR for the early release of withheld refund/ rebate. They were of the opinion that delay in releasing of refund/ rebate would further increase the problems of exporters, who were already facing financial crunch in the market.

Aptma has recently sent a letter to the CBR claiming that tax authorities have withheld around Rs3 billion refund during the current financial year.