The Lahore Chamber of Commerce and Industry (LCCI) has urged the Federal Board of Revenue (FBR) to ensure early clearance of stuck tax refund claims of the export-oriented sectors, which are facing severe hardships.
In a statement, LCCI officials said exports were stagnant and the export-oriented industry was in dire need of resources, adding the delay in payment of refund claims was compounding their problems. They said the FBR should streamline growth of the most productive sectors by paying the businessmen their refund of sales tax and income tax.
They pointed out that the delay in release of refunds worth billions of rupees had triggered serious liquidity crunch for the exporters and manufacturers, which could lead to the closure of several industrial units.
Published in The Express Tribune, March 15th, 2016.
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