December 14, 2006	Thursday	Ziqa'ad 22, 1427

KARACHI, Dec 13: The Central Board of Revenue (CBR) has assured knitwear exporters to resolve the issue of pending sales tax refund claims within two months to ease the liquidity problem being currently faced by the export trade.

In a meeting with Pakistan Hosiery Manufacturers Association (PHMA) here on Wednesday, Member Sales Tax CBR Musarrat Jabeen admitted that owing to problems in the electronic processing system —Starr--there had been inordinate delay in payment of refund claims. She said that for the foolproof system two new software solutions were being suggested to the chairman CBR.

However, the member requested the exporters to be patient as this would take some time. She further said that an advisory committee would be constituted with representatives of each association and monthly meetings will be called by the sales tax collectorate, which will also be attended by her.

Earlier in a welcome speech Chairman PHMA Muhammad Naqi Bari apprised the CBR member of the serious problems being faced by the exporters due to huge amount of pending refunds causing severe liquidity crunch.

Saleem Parekh, the zonal chairman, said that a large number of deferred claims were also pending with the collectorate and is yet to be fed into the computer.

He wondered how payments could be made by December 31, or early next year. — Staff Reporter