Trade: (Businessmen disappointed over delay in Export Refunds)

ISLAMABAD: An emergent meeting of top businessmen consisting from various sectors relating to exports of Pakistan on Friday expressed great concerns over the pending Rebates on Exports, Sales Tax refunds and Special Incentive rebates lying unpaid with SBP as well as FBR for the last more than two years.

They said that these refunds and rebates have unfortunately been accumulated to over Rs.200 billion and are adversely affecting the cash flow of the exporters. They expressed their complete disappointment that despite having raised this issue individually as well as collectively in the meetings with Ministry of Finance and Ministry of Commerce besides FBR and SBP no action has been taken so far.

They also said that the Federal Minister for Finance Senator Ishaque Dar had announced during his budget speech that all such pending refunds and rebates etc. shall be paid before the month of August 2015.

They further said that unfortunately nothing has been done so far and the FPCCI is constrained to say that if the commitment of Finance Minister is not honoured by August 31, 2015, the business community shall take appropriate measures to safeguard their interest.