ISLAMABAD, Jan 6: The actual release of refund/rebate to exporters has decreased steadily by 15.81 per cent during the first six months of the current financial year.

Official figures released by the Central Board of Revenue (CBR) on Monday showed that Rs31.751 billion were paid as refund/rebate to exporters during the July-December period of the current financial year against Rs37.716 billion paid during the same period of last year, showing a decline of Rs5.965 billion.

Further break-up showed that the tax authorities released Rs10.690 billion rebate to exporters under the head of customs during the first half year of the current fiscal year against Rs16.436 billion, showing a decline of 34.95 per cent.

Under the head of sales tax, the tax authorities released refund at the rate of Rs21.061 billion during the same period this year against Rs21.280 billion over the corresponding period of last year, showing a decline of 1.02 per cent.

The tax authorities, when contacted termed the decline in the release of refund to slight decrease in the rates of duty drawback on export of goods.

They said that last year more refund/rebate were given to the exporters at the directive of the president to help the exporter to face the fall out of the 9/11 incidents.

On the other hand, the exporters were repeatedly asking the CBR for release of their genuine refund/rebate as they were of the opinion that delay causing inconvenience to their businesses.

They demanded of the government to expedite the recovery of refunds to exporters who were already facing crunch in the market following the 9/11 impact on the economy.

They also alleged that during the current financial year the clearance of refunds/rebate to exporters has also been slowed down.