KARACHI: Pending Income Tax and Sales Tax refunds of the Overseas Investors Chamber of Commerce and Industry (OICCI) member companies have reached approximately Rs 102.8 billion, continuing to place significant pressure on the liquidity and working capital of some of Pakistan’s largest foreign investors.
According to the updated position shared by the OICCI with the Federal Board of Revenue (FBR), the outstanding amount includes nearly Rs 68 billion in Income Tax refunds and Rs 34.8 billion in Sales Tax refunds as of August 2026.
In a letter addressed to FBR Chairman Rashid Mahmood Langrial, the OICCI said the overall refund position remained largely unchanged from its earlier submission, despite the issue having been raised during a meeting with the FBR leadership at Custom House, Karachi, on August 5, 2026.
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The OICCI expressed serious concern over the prolonged delay in settling legitimate refund claims, noting that the continued pendency was restricting the availability of funds required by companies for their routine operations, business expansion and future investment.
The Chamber highlighted that many of its member companies are among Pakistan’s largest foreign investors and major contributors to the national economy through investment, employment, tax payments and transfer of technology.
It said the timely settlement of outstanding refunds was essential for strengthening investor confidence and improving Pakistan’s overall ease-of-doing-business environment.
The OICCI requested the FBR chairman’s personal intervention for the expeditious resolution of the long-standing issue and urged the tax authority to settle the pending Income Tax and Sales Tax refund claims on a priority basis.
Copyright Business Recorder, 2026