LAHORE: Towel Manu­facturers Association of Pakistan chairman Tahir Jahangir has expressed concern over the pendency of sales tax refunds of exporters.

In a statement issued here on Monday, he said the Federal Board of Revenue (FBR) was again dragging its feet on the sales tax refunds as refund vouchers for November were still unpaid as a result of which the exporters were facing shortage of working capital by about 15 per cent of their monthly turnover.

Mr Jahangir accused the FBR of indulging in the practice of withholding sales tax refunds whenever it failed to meet its tax collection target, causing hardship to the exporters and making them hesitant to invest further and expand their export businesses.

He cautioned that if the issue was not resolved at the earliest, the exporters could not remain competitive in the world market.

Mr Jahangir urged Finance Minister Ishaq Dar to pay attention to the issue on an urgent basis and instruct the FBR not to withhold sales tax refunds of the exporters.

Published in Dawn, January 10th, 2023

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Time for dialogue
Updated 24 Jun, 2024

Time for dialogue

If the PML-N and PTI remain mired in mutual acrimony, an ever-widening gap will continue to allow non-political forces to assert themselves.
Property taxes
24 Jun, 2024

Property taxes

ACCORDING to reports in the local media, along with the higher taxes imposed on real estate in the recent budget, ...
Fierce heat
24 Jun, 2024

Fierce heat

CLIMATE change is unfolding as predicted by experts: savage heat, melting glaciers, extreme rainfall, drought, ...
China’s concerns
23 Jun, 2024

China’s concerns

Pakistan has no option but to neutralise militant threat to Chinese projects, as well as address its business and political stability concerns.
War drums
23 Jun, 2024

War drums

If it is foolish enough to launch another war in Lebanon, Tel Aviv will be solely responsible for setting the Middle East on fire.
Balochistan budget
23 Jun, 2024

Balochistan budget

BALOCHISTAN’S Rs955.6bn budget for the fiscal year 2024-25 makes many pledges to the poor citizens of Pakistan’s...