Exporters in Pakistan have threatened the government to either release their refundable sales and income tax money or they will have to lock-down all sorts of industries.
In a media briefing, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) exporters gave April 20th, 2017 as the deadline for the government to release their refundable taxes or they will go to protest.
Mr. Zubair Tufail, FPCCI president, said that government is not releasing tax refund and this amount has piled up to Rs. 250 billion till date.
He said that this big chunk of money, stuck with government departments, is causing cash-flow issues for the exporters and that they can’t wait any further on this.
Zubair said that businesses were bearing the losses due to shortage of funds. “Small exporters, from across Pakistan, are on the verge of going bankrupt”, he added.
He said that governments, world over, support their export sector but instead of supporting, Pakistani government and Chairman of FBR are only worsening our lives by making promises and not refunding exporter’s hard earned money.
He told media that government refunded only Rs. 52 billion during last nine months, while there’s over Rs. 250 billion still pending.
Mr. Javad Bilwani, Chairman Apparel Association, said that our power looms are shutting down while Indian fabric is infiltrating in Pakistani markets through Dubai.
“We have reached a condition now that only fabric made coffins will be available for export”, Javad Bilwani said in a very emotional tone.