PIAF welcomes decision to disburse Rs100b refunds to exports industry

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LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) has appreciated the decision of the government to disburse up to Rs100 billion towards outstanding refunds belonging to exporting industry.

It is to be noted that Federal Minister for Finance, Revenue and Economic Affairs Dr Miftah Ismail has recently assured business leaders that before the government’s tenure ends, it will disburse up to Rs100 billion under sales tax refund claims. The government is also going to announce an export package within the next four to five days, he added.

PIAF chairman Irfan Iqbal Sheikh, in a joint statement along with senior vice chairman Tanveer Ahmed Sufi and vice chairman Kh Shahzeb Akram, stated that the government is finally fulfilling its commitment regarding the payment of stuck refunds of exporters.

He said that it’s a good omen that the FBR has prepared refund cheques, for the disbursement and for this, the documentation is under process.

According to reports, the FBR is going to disburse sales tax refunds against those cases that have been verified up to March. The total outstanding refunds, including sales tax, income tax and duty drawback, were estimated at over Rs200 billion.