ISLAMABAD: The Rebate Refund Section of the Model Customs Collectorate Islamabad paid Rs13.00million of Customs Duty, including pending and fresh refunds, to the exporters working through the Air Freight Unit Islamabad.
According to details explained by sources of the Model Customs Collectorate (MCC) Islamabad that payment of rebate refunds is very essential to promote exports of the country. Without paying rebate refunds, the volume of exports could not be enhanced.
Sources told CT that, during the first three weeks of November’s Financial Year (FY) 2017-18, the MCC Islamabad’s Rebate Refund Section was assigned a proportional target for the first 21 days under the head of CD amounting to Rs14million whereas it paid Rs13.00million of rebates. The Rebate Refund Section has been allocated Rs20million target to pay refunds to the exporters during the month of November 2017-18.
The sources is optimistic that the Rebate Section will not only pay the earmarked target of refunds during the month of November’s FY17-18 but it will also pay extra rebates to the exporters till the end of the current month of November.
It was told that the Rebate Section gained 65.00% average of achievement during the first 21 days against the assigned monthly target of rebate refunds. The Rebate Section showed 93% average of achievement during the first 21 days of November’s FY17-18 against the same period of corresponding FY16-17. The Rebate Section paid Rs9.34million rebate refunds during the previous November’s FY16-17.
Sources was further told that the Rebate Section of the MCC Islamabad paid Rs21.87million of rebate refunds as Customs Duty to the exporters during the month of October’s Fiscal Year 2017-18 against the earmarked target of Rs20million under the head of rebate refunds.
