Karachi, September 27, 2023 – In a move to facilitate the resubmission of claims under duty drawback schemes, the State Bank of Pakistan (SBP) has directed commercial banks to keep their branches open on Saturday, September 30, 2023.
This decision aims to accommodate individuals and businesses in their efforts to comply with the stipulated deadlines for duty drawback claims.
The SBP’s directive aligns with EPD Circular No. 12 of 2023, which was issued on August 21, 2023. According to the circular, September 30, 2023, has been set as the final cutoff date for the resubmission of discrepant claims, as specified in the following schemes:
EPD Circular Letter No. 24 dated 19-12-2017, Local Taxes and Levies Drawback (Non-Textile) Order, 2017, S.R.O. No. 1248(I)/2017 dated 14-12-2017
EPD Circular Letter No. 25 dated 19-12-2017, Duty Drawback of Taxes Order 2017-18 (Textile), Notification No. 1(42-A)TID/17-TR-II dated 12-12-2017
EPD Circular Letter No. 19 dated 24-10-2018, Local Taxes and Levies Drawback (Non-Textile) Order, 2018, S.R.O. No. 711(I)/2018 dated 08-06-2018
EPD Circular Letter No. 21 dated 26-11-2018, Duty Drawback of Taxes Order 2018-21 (Textile), Notification No. 1(42-B)TID/18-TR-II dated 03-08-2018
In light of these requirements, all relevant branches of authorized dealers and banks will extend their operational hours on Saturday, September 30, 2023, until 05:00 pm. This extension will ensure that businesses and individuals have ample time to complete the necessary paperwork and submit their claims in compliance with the outlined duty drawback schemes.
The SBP’s decision underscores its commitment to facilitating economic activities and streamlining processes for individuals and businesses involved in these schemes. It aims to create a more conducive environment for trade and commerce by ensuring that stakeholders have access to the necessary banking services and support during this crucial period.
For further information and assistance related to duty drawback claims, individuals and businesses are encouraged to contact their respective authorized dealer branches and banks. The SBP remains committed to providing support and guidance to facilitate compliance with these schemes and to promote economic growth and stability in Pakistan.