FCCI demands settlement of tax refunds

• "Textile industry is convinced to double the export from US$13 billion to US$25 billion in line with the Prime Minister's vision," he said.

FAISALABAD: The Faisalabad Chamber of Commerce of Industry (FCCI) has demanded the government to settle down tax refund claims for survival of export sector.

In a statement issued here on Saturday, FCCI Senior Vice President Zafar Iqbal Sarwar said that pending refund claims of Rs 189 billion had eroded the financial viability of textile export sector.

He said that textile industry had supported the government's drive to enhance tax collection through documentation and transparency of economy.

"Textile industry is convinced to double the export from US$13 billion to US$25 billion in line with the Prime Minister's vision," he said and added that facilitation is imperative to achieve the cherished goal.

He demanded that in order to improve current liquidity and survival of export sector, accrued DLTL, TUFF, deferred sales tax and income tax refunds must be settled immediately.