ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday said the PML-N government failed to honour its commitment about releasing stuck-up refunds to the business community leaving them in a quandary.
Refunds worth trillions of rupees are held by the government since years which are not being released despite repeated promises by the top government functionaries.
This was said by the FPCCI President Ghazanfar Bilour.
The Federal Board of Revenue (FBR) prefers to meet their tax collection targets to please the International Monetary Fund (IMF) instead of processing refunds of taxpayers that have resulted in creating a severe liquidity crunch for the businessmen, compromising their ability to do business, he added.
He said that exporters are running from pillar to post for ensuring the release of funds against the Refund Payment Orders already issued, however, it seems that the government is not concerned about the plight of the business community.
Ghazanfar Bilour said that the liquidity crunch is playing havoc with the viability of the industrial sector while the textile industry is taking a major blow.
The textile exports have grown in double-digits after the announcement of this PM package but the commitments made under that package remained unmet discouraging the business community and putting the credibility of the government at stake.
