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Business & Finance

Finance minister assures payment of Rs40.5bn refund claims of DLTL

  • Says despite financial constraints, the sales tax refunds would also be cleared on a fast track basis
Published June 5, 2022
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FAISALABAD: Rs 40.5 billion refund claims of DLTL up to April 30, 2022 would be paid to the claimants on an immediate basis, assured Federal Finance Minister Miftah Ismail.

Addressing a delegation of the business community from Faisalabad, he explained in detail the current economic situation and said that best efforts would be made to facilitate the industrialists and exporters within the given circumstances. He said that despite financial constraints the sales tax refunds would also be cleared on a fast track basis.

About the shortfall of electricity, he assured that industrial feeders would be exempted from the load shedding. He said that the government was not happy with the decision to increase the prices of petroleum products but it had become inevitable in the current economic scenario.

President Faisalabad Chamber of Commerce & Industry (FCCI) Atif Munir Sheikh explained in detail the problems that cropped up during the prevailing situation along with its global, regional and local impacts on Pakistan’s economy. He urged the government to form a comprehensive and long-term strategy for the stabilization of the economy on a sustained basis. “We are not begging for subsidies but the government should provide equal opportunities to the exporters to compete with their regional competitors”, he said and demanded that the government must maintain current electricity and gas rates for the industrial sectors to achieve growth targets. He said that the gas supply should also be restored immediately for the captive power plants. He said that load shedding is detrimental to industrial production and hence the government must eliminate it by making all un-functional power plants operational.

The meeting was also attended by the Federal Minister for Energy Khurram Dastgir Khan, State Minister for Petroleum Dr Musadaq Malik, secretaries of the respective ministries in addition to the representatives of the Federal Board of Revenue (FBR).

The delegation was headed by Atif Munir Sheikh, President of Faisalabad Chamber of Commerce & Industry while Imran Mehmood Sheikh Senior Vice President FCCI, Arif Ehsan Malik Central Chairman All Pakistan Bed-sheets & Upholstery Manufacturers Association (APBUMA), Shafiq Rafi Regional Chairman of the All Pakistan Textile Processing Mills Association (APTPMA), Kashif Zia Regional Chairman Pakistan Hosiery Manufacturers & Exporters Association (PHMA), Shahid Majeed of the Faisalabad Dyes and Chemicals Merchants Association (FDCMA), Dr. Khurram Tariq Executive Member FCCI and Nazir Ahmad Secretary General FCCI were also included in it.

Copyright Business Recorder, 2022

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