Lahore: Garment manufacturers and exporters across the country have requested the government and the Federal Board of Revenue (FBR) to release their sales tax refunds through the latter’s fully automated sales tax e-refund system within the 72 hours’ time frame earlier committed, a news source reported.
Pakistan Readymade Garments Manufacturers and Exporters Association Chairman Sohail Sheikh expressed his views on the matter during a press briefing on Monday.
He welcomed Prime Minister (PM) Imran Khan’s directives to the FBR for clearing the pending refunds and removing bottlenecks in the new refund payment system. However, he along with other members expressed reservations regarding the delays in the clearance of their pending refunds.
The association also urged the premier to ensure that his directions were implemented on an immediate basis and in true letter and spirit, as exporters – especially small and medium enterprises – were facing severe liquidity crunch due to delays in payment of sales tax refunds.
Sheikh further said that due to tight monetary policy banks were reluctant to finance small industries, so it becomes imperative that exporters should get speedy refunds of their money.
