ISLAMABAD, Jan 31: The Central Board of Revenue (CBR) has revised the rates of duty drawback on export of pharmaceutical products to boost its exports.

The new rates of duty drawback would be effective from January 31, 2003, said a customs notification issued on Friday.

The duty drawback rates would be allowed on export of pharmaceutical products (medicines for human and animals use including veterinary medicines and its raw materials-active raw materials, auxiliary raw materials and packaging materials.

According to the notification, duty drawback would be allowed at a rate of 4.15 per cent of the fob value on tablets or capsules; 2.50 per cent of the fob value on liquids or syrups or suspension or drops or granules in bottles or sachets; 2.62 per cent of the fob value on creams or ointments; 3.31 per cent of the fob value on injections or injectable and 2.04 per cent of the fob value on intravenous solutions (I.V. solutions).

The payment of duty drawback would only be allowed, if imported input materials of the exported goods were in line with contents mentioned on the printed packaging materials of the product like labels, show box, cartons, stickers, etc., as approved by the ministry of health.

The duty drawback would be subject to the following conditions: the manufactured goods are exported out of Pakistan and an application for repayment of customs duties is presented to the proper officer of customs within 210 days of such exportation or of the publication of this notification or within 180 from the date of realization of foreign exchange as shown in bank credit advice issued in accordance with the relevant regulations of the State Bank of Pakistan in force for the time being, whichever is later and the exporter makes a declaration on the face of original shipping bill and on other export documents to the effect that he would claim repayment of the customs duties paid on the imported raw materials used in the production or manufacture of the goods being exported.