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KARACHI, Dec 14: The Karachi Export processing Zone Council has urged the government to resolve the problem of the time-barred research and development (R&D) claims of the garment exporters of the KEPZ, which involve about Rs130 million.
The council convener Mohammed Younus Shaikh said in a statement that the problem arose when the State Bank suddenly stopped accepting R&D claims on July 14, 2006. The bank later issued a circular on December 7, that the relevant SRO was to be applied from April, 2006 although there was no such mention in the original SRO dated January 19, 2006.
