LAHORE: Expressing reservations over performance of the Federal Board of Revenue’s (FBR) newly-launched fully automated sales tax e-refund system, the garment manufacturers and exporters on Monday criticised the government for not releasing refunds within 72 hours.
“We welcome Prime Minister Imran Khan’s directives to the FBR regarding clearance of our pending refunds by removing bottlenecks from the new refund payment system. But sadly it didn’t happen,” deplored Pakistan Readymade Garments Manufacturers and Exporters Association Chairman Sohail Sheikh in a press release on Monday.
“We ask the government to release our refunds within 72 hours,” he warned.
The association urged the premier to also ensure his directions are implemented on am immediate basis and in true letter and spirit, as exporters especially small and medium enterprises are facing severe liquidity crunch due to delays in payment of sales tax refunds despite launch of the new system.
“At a time when banks are already reluctant to finance small industrial units amidst tight monetary policy, the exporters need more quick and speedy system of refunds payment of their own money,” he said.
Published in Dawn, January 7th, 2020