LAHORE: Federal Board of Revenue (FBR) has directed two special bodies comprising top FBR officials and LCCI representatives to resolve the issues of steel industry and overcome the challenges of smuggling, under invoicing and refunds.
The Special Committees, constituted vide FBR notification (C No 1(1) Chief (Automation & ST)/2013, would meet soon to chalk-out plans to deal with the above-mentioned issues.
As per notification, the special FBR-LCCI Committee on Steel Industry comprised five members including former LCCI President Mian Muhammad Ashraf (Chairman), Patron Pakistan Steel Re-Rolling Mills Association Hafiz Muhammad Akber, Khalid Javaid of Ittehad Steel Mills, Member FBR (IR-Operations) Muhammad Ashraf Khan and Chief Commissioner Inland Revenue, RTO, Lahore Shafqat Mahmud.
The special committee on smuggling, under-invoicing and refunds consists of former LCCI president Sheikh Muhammad Asif (Chairman), Iftikhar Ali Malik, Mian Anjum Nisar and Shahid Hassan Sheikh, Member Customs Nisar Muhammad and Collector Customs (Preventive) Junaid Akram.
On November 16, the LCCI office-bearers in a meeting with Federal Finance Minister Ishaq Dar had raised the issue that a number of steel manufacturing units were near closure only because of authorities action against unregistered steel manufacturers, rampant smuggling, under-invoicing and non-release of refunds.
Meanwhile, LCCI Acting President Mian Tariq Misbah and Vice President Kashif Anwar have appealed to all the LCCI Members to contact Lahore Chamber if they are facing problems in the above said areas of business.
