Sources said that various proposals are under considerations to clear refund amounts. Consultations with the Ministry of Finance and State Bank of Pakistan (SBP) are under way to finalise the idea of launching bond for clearing this liability.
The government has yet to finalize procedural requirements and details of the procedure in this regard. One of the proposals under examination is to launch a three-year negotiable security bond of worth over Rs 80 billion in different phases through central bank, they added.
Another proposal is that the sales tax refund claims and customs duty drawbacks may be paid by State Bank of Pakistan through authorised dealers immediately at the time of realisation of export proceeds.