In alignment with Prime Minister Shehbaz Sharif’s commitment to addressing financial challenges faced by exporters, the Federal Board of Revenue (FBR) has successfully cleared all pending tax refunds up to March 3, 2024. This proactive measure addresses a significant demand from the export sector and injects a substantial amount of liquidity back into the economy.
The total value of the cleared refunds amounts to an impressive Rs 65 billion, offering much-needed relief to exporters who have been grappling with cash flow challenges due to delayed refunds. This step is expected to have a positive impact on the financial stability of businesses within the export sector.
Prime Minister Shehbaz Sharif, in his inaugural address, specifically emphasized the importance of resolving the issue of pending tax refunds. The prompt action by the FBR to clear these refunds underscores the government’s commitment to fulfilling promises and supporting key sectors of the economy.
This decisive move has been met with appreciation from the business community, signaling a positive and responsive approach to the concerns raised by exporters. It also reflects the government’s dedication to fostering a business-friendly environment and promoting economic growth.
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