Business community concerned at delay in payment of outstanding refunds

Business community has expressed grave concern over undue delay in payment of outstanding refunds on head of export, sales tax and income despite the announcement of Rs100 billion economic relief package by Prime Minister Imran Khan to support industrial sector amid the current situation created by COVID-19 pandemic.
President of Sarhad Chamber of Commerce and Industry (SCCI), Maqsood Anwar Pervaiz, while chairing a meeting of industrialists, exporters and manufacturers via video link here on Saturday said that the industries growth has already been stagnant owing to the coronavirus. He said the unnecessary delay in payment of outstanding refunds would create liquidity issues for industries that would further aggravate the situation and completely close down the industrial process and trigger massive unemployment in the country.
Despite the announcement of PM's economic relief package worth Rs100 billion, the SCCI chief said the payment of refunds to industries was yet a big issue, and "the Federal Board of Revenue (FBR) a major hurdle in this regard".
Maqsood Anwar said the undue delay in payment of refunds of exports, income tax and sales tax to the industries by the FBR was incomprehensible following commitments made by the federal government to resolve the liquidity issues being faced by the industrial sector in the current challenging situation.
He went on to say that the industrial sector was already suffering due to the outbreak of the coronavirus pandemic.
He feared that the liquidity issue might bring the complete industrial process in the country to a halt.
The SCCI chief urged Prime Minister Imran Khan and his ministers to immediately order the relevant ministries and the FBR to ensure immediate payment of all refunds to ensure robust industrialization, increased exports and creation of new job opportunities because the coronavirus hit industries were no more in a position to endure any kind of damage or crisis under the prevailing circumstances.
The chamber president praised the government decision to defer payment of electricity and gas bills for the next three months.