Islamabad: The Federal Board of Revenue (FBR) on Thursday provided refunds worth PKR 30 billion to 554 exporters – following the government’s decision to cancel the issuance of bonds to these individuals, according to news sources.
Previously, the tax authority had issued bonds amounting to PKR 30 billion. However, the exporters faced some difficulty with the non-tradable nature of those bonds. The FBR later took notice of the exporters’ concerns and agreed to release the said amount in cash to help the export community out of its liquidity crunch.
Member Inland Revenue Policy FBR Dr Hamid Ateeq Sarwar confirmed the news. The department also announced that it redeemed those previously issued bonds and disbursed the payment to the bond-holding exporters. The government aims to sustain the positive momentum picked up by the export industry as it successfully fetched a remarkable 10% increase in recent months.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
