6% RESEARCH AND DEVELOPMENT SUPPORT TO THE GARMENTS INDUSTRY
|EPD Circular letter No. 06/ EPP.1(51)R&D/ 2006||May 15, 2006 6|
The Head/Principal Offices of all Authorized Dealers in Foreign Exchange
Attention of Authorized Dealers is invited to FE Circular No. 06 dated June 18, 2005 on the subject in terms of which 6% R&D Support was allowed to the garment industry, subject to the fulfillment of various terms and conditions mentioned therein. Subsequently, in accordance with MoC’s further decision, an amendment was made vide FE Circular No. 14 dated October 27, 2005, in terms of which all applications originally submitted with SBP-BSC Offices on or before September 30, 2005, but returned due to certain discrepancies, were allowed to be reprocessed irrespective of 90 days time limit.
With a view to further facilitate the exporters, in terms of Ministry of Commerce decision, it is advised that all time barred claims for 6% R&D Support, where shipment was made and proceeds there against realized during the period June 18, 2005 to September 30, 2005 (both dates inclusive), may now be processed for payment. Accordingly, exporters may now submit such previously unclaimed payments to respective area offices of SBP-BSC through their respective branches under the procedure already prescribed for submission of 6% R&D Support claims. The final dead line for submission of such claims with SBP-BSC Offices will be June 20, 2006.
Authorized Dealers are advised to bring the above to the notice of their constituents.