Karachi, February 15, 2022 (PPI-OT):The Overseas Investors Chamber of Commerce and Industry (OICCI) has asked Federal Board of Revenue (FBR) Chairman Dr Muhammad Ashfaq Ahmed to settle the “legitimate claims” of its member companies. In a recent letter to Dr Ahmed, the representative body of foreign investors said the pending tax refunds of OICCI members amounted to more than Rs76 billion at the end of January, up Rs16bn from the end of October last year when they totalled Rs60bn.

Long delays in the settlement of legitimate refunds – in some cases several years – leave a negative impact on existing foreign investors and, consequently, on the future inflows of foreign direct investment into the country, it said. “We request you to kindly direct the FBR commissioners concerned to review these cases and arrange for an early settlement of the legitimate claims,” it added.

For more information, contact:
Overseas Investors Chamber of Commerce and Industry (OICCI)
Chamber of Commerce Building, Talpur Road, P.O. Box 4833,
Karachi – 74000, Pakistan
Tel: +92-21-32410814-5
Fax: +92-21-32427315
Email: info@oicci.org
Website: http://oicci.org/