‘Tax refund issue will be taken up with authorities’

Punjab governor looks to soothe business community.

KARACHI: In an attempt to address long-standing concerns of the business community, Punjab Governor Malik Rafique Rajwana said the tax refunds issue will be taken up with relevant authorities.

While visiting the Overseas Investors Chamber of Commerce and Industry (OICCI) premises, Rajwana said that the tax refund issue has adversely affected businesses in terms of liquidity, adding that the government would extend its support in resolving the discord. The official appreciated the contribution of multinational companies in helping the needs of the country and its public.

Meanwhile, OICCI President Shahab Rizvi stressed that there was a need to move away from the tightly-controlled regulatory environment, which is currently the case, to one that was more business-friendly.

OICCI Secretary M. Abdul Aleem highlighted a few issues faced by foreign investors, which include the complex tax collection mechanism that sees three different bodies overseeing revenue intake in Punjab, counterfeiting and infringement of intellectual property rights and gaps in policy implementation.

Aleem appreciated the improvement in the country’s security situation and enhanced focus in the area of energy and power, but added that foreign investors would continue to keep high expectations from the government. The meeting was attended by over 25 representatives including CEOs and other senior executives of member companies.

Published in The Express Tribune, March 2^nd, 2016.

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