ISLAMABAD: Verified reimbursements to exporters of Rs65 billion have been made available by the Federal Board of Revenue (FBR).
According to a formal statement released by the Federal Bureau of Investigation on Monday, the decision was made in response to instructions given by Prime Minister Shehbaz Sharif during his first floor speech in the National Assembly following his election on Sunday as Pakistan’s 24th premier.
Improved exports and an increase in Pakistan’s foreign exchange reserves would result from the released refunds given to exporters.
Exporters praised the prime minister for taking this action. Refund of sales tax paid against all RPOs (refund payment orders). Sales tax delayed, duty drawback, income tax, DDT/DLTL, TUF, and markup subsidy reimbursements, however, are still outstanding.
An official claims that a sum of Rs. 50 billion is prepared for payment with SBP in relation to markup subsidy, TUF, and DDT. The source stated that a sum of about Rs250 billion was held by the FBR due to deferred sales tax, income tax, income tax credit, and duty drawback.
