ISLAMABAD: Millat Tractors Limited (MTL) on Thursday categorically said that the Federal Tax Ombudsman (FTO) has grossly misinterpreted President Arif Alvi’s order relating to the representations on the FTO order.

In a notice to the Pakistan Stock Exchange, Millat Tractors clarified its position regarding the press conference by the FTO and reported by national media, including PTV.

The company said its management has reviewed the President’s order relating to the representations on the FTO order.

The statement said the management of MTL is of the view that the press conference of the FTO Office and its advisors does not represent the factual position and is legally incorrect.

“Unfortunately the facts and the President’s order have been grossly misinterpreted. In actual fact the President in his order had declined to interfere in an ongoing matter between the taxpayer and the FBR,” it added.

The MTL said its management is reviewing the reported press conference and the President’s order and shall take up the matter at relevant legal forums to take remedial measures.

Copyright Business Recorder, 2023