Govt is Fast-Tracking Clearance of Tax Refunds: Dr Hafeez Shaikh

Advisor to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh has said that the government is actively resolving the liquidity related issues of the business community by clearing all outstanding tax refunds on a fast-track basis and taking progressive measures for further ease of doing business and improving the business environment, particularly for the small and medium enterprises.

He was talking to the office bearers and members of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) who had a detailed on-video interaction with the Adviser and his team at the Finance Division and apprised them of their issues besides presenting various proposals and recommendations for consideration in the upcoming federal budget.

Chairperson FBR Ms. Nausheen Javaid Amjad, Secretary Finance Naveed Kamran Baloch, FPCCI President Mian Anjum Nisar, former federation president Zakaria Usman, and several other office-bearers and members of FPCCI were included in the discussion.

Dr. Abdul Hafeez Shaikh said that the government had already issued sales tax refunds to exporters to the tune of Rs. 56 billion through the FASTER system while Rs. 40 billion refunds have also been issued with additional Rs. 3 billion refunds to be paid by the end of the current month.

He said the government is open to considering any genuine and realistic proposals, including the establishment of industrial zones, upgrade of infrastructure, rationalization of tariff and duties, for the promotion of SMEs in the country.

Earlier, the office-bearers of the FPCCI mentioned the progress on their recent meetings with the FBR chairperson and her team on the resolution of their issues such as waiver of demurrage charges for the containers stuck at ports as well as clearance of vehicles for want of encashment certificates due to prevailing COVID-19 situation, reduction of regulatory duty on the import of tires.

They thanked the adviser and his team for expediting clearance of outstanding tax refunds and conceded that for the first time in history they had been receiving their outstanding tax refunds at their doorsteps without any hassle.

They also shared several proposals and recommendations for facilitating and incentivizing businesses and promoting ease of doing business in the country.

The Adviser assured the business leaders that the government would resolve all their genuine issues and implement realistic proposals and recommendations for the promotion of business activities in the country.

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