Settle All Tax Refund Cases by June 15, PM Orders FBR

(Digital Ittila) Islamabad: A delegation comprising the top leadership of Chambers of Commerce and Industry from across the country met Prime Minister Muhammad Shehbaz Sharif, during which the upcoming federal budget, industrial development, increase in exports, and the overall economic situation were discussed in detail. Instructions were issued to settle tax refunds by June 15 and move the PRAL office to Karachi.

On this occasion, the Prime Minister stated that due to the continuous hard work and effective policies of the government, the national economy has stabilized, and measures will now be continued to achieve faster economic growth. He assured that further facilities would be provided in the upcoming budget to promote industrial production and business activities.

The Prime Minister directed the Federal Board of Revenue (FBR) to clear all pending tax refund cases by June 15 to resolve the difficulties faced by the business community. He stated that export-led economic growth is the primary mission of the government, and the achievement of this goal will be ensured through collective efforts. The Prime Minister also welcomed the decision of banks to maintain the export refinance scheme rate at 4.5% until June 2027 despite the recent hike in the policy rate, which will facilitate exporters.

Prime Minister Shehbaz Sharif also issued directives to shift the headquarters of Pakistan Revenue Automation Limited (PRAL) to Karachi for the convenience of the business community. Furthermore, on the request of overseas Pakistanis and traders, the establishment of a passport office in Gujrat was approved.

Terming the development, reforms, and facilitation of the SME sector as an important part of the government's economic agenda, the Prime Minister urged local investors to promote the local production of electric vehicles through joint ventures. The participants of the delegation appreciated the diplomatic efforts of the Prime Minister, Deputy Prime Minister & Foreign Minister Ishaq Dar, and Army Chief & Chief of Defence Forces Field Marshal Syed Asim Munir for defusing tensions and promoting peace in the Gulf region.

The representatives of the business community assured full cooperation to the government, stating that they stand shoulder-to-shoulder with the government for Pakistan's economic development and increasing employment opportunities. The delegation welcomed the launch of an easy-term loan scheme for low and middle-income groups under the "Prime Minister Apna Ghar Program". The participants also thanked the government for initiatives such as reforms in the board of the Export Development Fund, successful privatization of PIA, digitization of FBR, and e-invoicing.

The presidents and high-level representatives of FPCCI, Karachi, Lahore, Rawalpindi, Islamabad, Sarhad, Quetta, Gujrat, Gujranwala, and Sialkot chambers attended the meeting. Governor State Bank Jamil Ahmad, Chairman FBR, and other high officials were also present on the occasion.