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Abdul Razak Dawood, advisor to the prime minister on commerce has directed the Federal Board of Revenue (FBR) to ensure speedy payment of pending duty drawback claims and rebate to the exporters.

The issue of payment of duty drawback claims and rebate came under discussion during the visit of Razak Dawood to the FBR Headquarters, here on Tuesday.

According to exporters refunds claims under the heads of duty drawbacks on local taxes (DLTL) and customs rebate are also stuck up which are over Rs 120 billion.

The meeting was attended by the FBR chairperson and his team of Customs officials headed by the FBR Member Customs Policy.

Advisor informed the FBR that the now current on the DLTL payments up to mid of March 2020.

18 billion have been disbursed by the SBP and the remaining balance of 2.5 billion shall be disbursed in the next few days.

The meeting was informed that in view of the current situation and future scenario, Pakistan's largest export sector will need assistance to improve the cash flow situation. The prime minister, on March 24, 2020 announced an economic relief and stimulus package to ameliorate the adverse effects of the COVID-19 pandemic on the economy.

Under this package, the export sector would be given financial relief of Rs100 billion including for outstanding payments of duty drawback claims.

Therefore, the FBR needs to ensure payment of verified rebate claims without further delay.

The FBR Member Customs (Policy), Javed Ghani, made a detailed presentation to the advisor on payment of customs rebate, deferred claims and payments to be made to the exporters.

The FBR member also shared that the FBR had devised a centralized system of online payment of Customs duty drawback payments directly in the bank account of the exporters.

For this purpose, members are requested to update their WEBOC profile.

In the given bank account details area in the system IBAN detail row is added wherein members are required to add their complete bank's IBAN number of same bank account whose details are already available in WEBOC profile to receive Custom duty drawback.

Exporters have requested the Advisor to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh to fulfill his commitments made, from time-to-time and release export sectors' all accumulated deferred claims, Customs Duty Drawback, DLTL etc., lying pending for payment since long for facilitating and enabling environment to the exporters to overcome their liquidity crunch.

Copyright Business Recorder, 2020