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SPB's circular delays R&D claim by textile exporters
25 Jan '07
1 min read
Textile exporters have complained to central bank against those banks refusing to accept their research and development (R&D) claims under the clarification No. 23 issued by the State Bank of Pakistan (SPB).
As per the circular No.22 and 23, exporters should produce Carrier's Bill of Lading or Certificate of Arrival from the port of destination.
Exporters are of the opinion that they are facing losses with this lengthy procedure. They have urged SBP to issue instructions to concerned officers to accept the claims without lengthy procedure at port.
Even after obtaining Certificate of Arrival from the concerned port, it will not mention about quantity exported with the quantity destined at the ports, failing to serve the purpose of the SBP, experts opined.
As per the circular No.22 and 23, exporters should produce Carrier's Bill of Lading or Certificate of Arrival from the port of destination.
Exporters are of the opinion that they are facing losses with this lengthy procedure. They have urged SBP to issue instructions to concerned officers to accept the claims without lengthy procedure at port.
Even after obtaining Certificate of Arrival from the concerned port, it will not mention about quantity exported with the quantity destined at the ports, failing to serve the purpose of the SBP, experts opined.
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