LAHORE: Minister of State for Revenue Muhammad Hammad Azhar has said that field formations of FBR will be directed to process pending refunds, enabling the industry to avail the instrument of promissory note.
He was addressing industrialists on Saturday. He said the old refunds of the industry would be paid in cash. He also assured that the tax credit, due on account of investment, would also be processed. He has assured of constituting a committee to redress fiscal matters of the exporting industry.
Addressing the gathering chairman APTMA said thanked the PTI government for taking drastic measures for the sector growth, including the announcement of affordable energy package for exporting industry and removal of sales tax and custom duty on import of cotton , basic raw material; which is already short for consumption in the country.
He assured the visiting minister of not disappointing the government struggling for reduction in the trade account deficit by increasing exports. The positive results of the major decisions taken by government for industrial growth will be encouraging from January 2019 onwards, he added.
