ISLAMABAD, Aug 14: The Central Board of Revenue paid out Rs7 billion refund/rebate to exporters during July 2004 as against Rs6.8 billion the same month last year, showing an modest rise of 2.94 per cent.

Official figures released by the board here on Friday showed that no tangible growth had been observed in the payment of refund/rebate to exporters in respect of growth registered in exports during the month of July 2004 over the same month of last year.

The value of exports of commodities stood at $1.182 billion during the month under review compared to $0.890 billion the same month last year, an increase of 32.86 per cent.

Further breakup showed that sales tax refunds showed an increase of 3.63pc to Rs5.5bn as against Rs5.3 billion last year.