LAHORE: The business community has expressed concerns over the pending rebates on exports, sales tax refunds and special incentive rebates, which have been lying unpaid with the State Bank of Pakistan and the Federal Board of Revenue (FBR), for the last two years.
Talking to Customs Today, they said that these refunds and rebates have been accumulated to over Rs 200 billion and are adversely affecting the cash flow of the exporters.
They said that despite having raised this issue individually as well as collectively in the meetings with the Ministry of Finance and the Ministry of Commerce besides FBR and SBP, but no action has been taken so far in this regard.
They also said that the Federal Minister for Finance Senator Ishaq Dar had announced during his budget speech that all such pending refunds and rebates etc. shall be paid before the month of August 2015.
They further said that unfortunately nothing has been done so far and the FPCCI is constrained to say that if the commitment of Finance Minister is not honored by 31st August, 2015, then the business community will take appropriate measures to safeguard their interest.
