ISLAMABAD: Independent Power Plants (IPPs) has requested the Federal Board of Revenue (FBR) to increase the sales tax rate from 17 percent to 20 percent on electricity to overcome the financial crisis.
According to the details, IPPs has also demanded the issuance of sales tax refunds to electricity producers. Officials said that due to low rate of oil in the international markets, Pakistan had increased the sales tax on petroleum products up to 17 percent.
Sources added that the IPPs said in its request that only HEBCO has only Rs 60 million of refunds for the month of October that is increasing the financial losses of the company.
