FBR sitting on 36,000 refund claims, says KCCI

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Karachi Chamber of Commerce and Industry (KCCI) President Abdullah Zaki Thursday warmly welcomed the finance ministry’s decision to settle refund claims of 26,000 cases by April 15 whose refund claims are less than Rs 1 million.

Zaki pointed out that a total of 36,000 cases pertaining to refund claims were lying pending at Federal Board of Revenue (FBR), of which claims of 26,000 cases were less than Rs 1 million.

In a statement issued, he appreciated Finance Minister Ishaq Dar for directing the concerned authority to settle refund claims cases which will certainly provide a sigh of relief to exporters who were pretty much concerned about the likely losses to be suffered by them due to depreciation of US dollar.

Within one year of its rule, the PML-N government has shown that it has given the task of economic revival to intellectual policy-makers who are trying their best to effectively pull the country out of crisis under the leadership of Prime Minister Nawaz Sharif and the supervision of Finance Minister Dar.

Zaki said the weakening of dollar against rupee and other economic indicators showing signs of improvement had helped restore the confidence of local business community and foreign investors, who believe the economy was on the right path to progress and prosperity.

He hoped the government would continue to unveil such pro-business initiatives in the day to come as only these steps could rescue Pakistan’s economy from the clutches of IMF.

“We are ready to utilise all our expertise and resources to promote industrialisation and expansion in the country but the government must also continue to support the business community and refrain from taking anti-business moves which if done would ensure further progress and prosperity for the country”, he said.