960411

Banks fail to settle claims

Exporters turning

back to Customs

for rebate payments

RECORDER REPORT

KARACHI: The scheduled banks, which were supposed to pay duty drawback to the exporters under the new CBR scheme from March 4, 1996, have todate not settled a single claim.

A leading exporter, Ihsan Illahi Sheikh told Business Recorder that the exporters who had loudly advocated for the system of payment through banks, have been greatly disappointed and were now turning back to Customs for payment of rebate. 'It seems that the CBR scheme for payment through banks was aimed to hoodwink the exporters', he added.

He said that the system of payment of rebate through the Customs had improved greatly and rebates were being paid more quickly and promptly.

The Collector of Customs (Export), Mir Fawad told Business Recorder that more and more exporters were opting for Customs for payment of rebate due to the improvement in the system.

He said that the Customs was bound to process a claim for payment in 21 days before sending it to the bank for payment.