Tax refunds to be released this month, exporters told
Finance adviser assures industrialists export rebate will be given in April
The delegation told the adviser that they had decided not to lay off their daily-wage staff in these difficult times. PHOTO: APP
ISLAMABAD:
Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Friday assured exporters that the government would clear general sales tax (GST) refund claims in the current month while export rebate would be given in April.
In a meeting with a delegation of exporters, the adviser expressed the government's resolve to do everything possible to address the exporters' problems and provide them relief with early release of rebate, duty drawback and GST refund.
"The government has no desire or policy to keep the money that belongs to the exporters even a day longer nor do we find any reason to delay the repayment," he said, while discussing varying proposals with the exporters.
He directed the finance secretary and the Federal Board of Revenue (FBR) chairperson to hold meetings with the relevant stakeholders and provide relief as much as possible to the exporters.
Shaikh also appreciated the decision taken by the All Pakistan Textile Mills Association (Aptma) that it would not lay off employees in the time of crisis and advised them to take care of their workers as the government was taking care of them.
Earlier, the exporters discussed with the finance adviser various issues that they were facing after the outbreak of coronavirus, the evolving situation of global economies and its impact on the export sector of Pakistan.
Centre, provinces agree on body for uniform taxation in Pakistan
The delegation pointed out that due to the pandemic, global economies had gone into a recessionary phase and the demand for their products, especially apparel, had dropped by a considerable level.
Exports, which have shown an improvement in February and March, are likely to receive a setback in the coming months.
In view of the changing position of global trade, the delegation said they had been facing problems with their cash flow and needed help and assistance from the government, mainly through speedy repayments/refunds, so that they could come out of the crisis and resume business as early as possible.
The delegation presented a list of proposals to the adviser that they believed could help improve their liquidity position and run their businesses in the current situation when they were not expecting further orders from the international buyers.
The delegation told the adviser that they had decided not to lay off their daily-wage staff in these difficult times.
Published in The Express Tribune, March 21st, 2020.
Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Friday assured exporters that the government would clear general sales tax (GST) refund claims in the current month while export rebate would be given in April.
In a meeting with a delegation of exporters, the adviser expressed the government's resolve to do everything possible to address the exporters' problems and provide them relief with early release of rebate, duty drawback and GST refund.
"The government has no desire or policy to keep the money that belongs to the exporters even a day longer nor do we find any reason to delay the repayment," he said, while discussing varying proposals with the exporters.
He directed the finance secretary and the Federal Board of Revenue (FBR) chairperson to hold meetings with the relevant stakeholders and provide relief as much as possible to the exporters.
Shaikh also appreciated the decision taken by the All Pakistan Textile Mills Association (Aptma) that it would not lay off employees in the time of crisis and advised them to take care of their workers as the government was taking care of them.
Earlier, the exporters discussed with the finance adviser various issues that they were facing after the outbreak of coronavirus, the evolving situation of global economies and its impact on the export sector of Pakistan.
Centre, provinces agree on body for uniform taxation in Pakistan
The delegation pointed out that due to the pandemic, global economies had gone into a recessionary phase and the demand for their products, especially apparel, had dropped by a considerable level.
Exports, which have shown an improvement in February and March, are likely to receive a setback in the coming months.
In view of the changing position of global trade, the delegation said they had been facing problems with their cash flow and needed help and assistance from the government, mainly through speedy repayments/refunds, so that they could come out of the crisis and resume business as early as possible.
The delegation presented a list of proposals to the adviser that they believed could help improve their liquidity position and run their businesses in the current situation when they were not expecting further orders from the international buyers.
The delegation told the adviser that they had decided not to lay off their daily-wage staff in these difficult times.
Published in The Express Tribune, March 21st, 2020.