Karachi, August 25, 2016 (PPI-OT): The President, Lasbela Chamber of Commerce and Industry (LCCI), Maqsood Ismail has welcomed the kind gesture of Prime Minister Nawaz Sharif and Finance Minister, Senator Mohammad Ishaq Dar for the announcement of the zero rated regimes – No Payment No Refund, for five export oriented sector i.e. value-added textile, carpet, surgical, sports goods and leather besides issuing orders to issue cheques of refund claims to the exporters.
Maqsood said that following many requests the ministry of finance has issued the refund cheques to the exporters at the ceremony held at the Prime Minister Secretariat, Islamabad recently. Payment of sales tax refunds made through issuance of cheques to exporters by the Prime Minister to the tune of Rs50 billion, whose RPOs were issued till 30th April 2016.
Despite strenuous efforts for enhancing the export in the larger national interests, the refund cheques were remained stuck up for the last many years during previous regime, Maqsood said adding that P.M Nawaz Sharif was kind enough to intervene and ordered the payment.
He said that following payment of stuck up amounts to the exporters; the exports are likely to be picked-up as it would make the liquidity position of exporters better who would be able to make prompt shipments. This may also provide an incentive to the exporters to make investment towards the improvement of quality of their products thus becoming more competitive in the market.
For more information, contact:
Public Relations Officer
Lasbela Chamber of Commerce and Industry (LCCI)
Lieda Office Building,
Hub Distt., Lasbela
Tel: +92-85-3303410, +92-85-3304461
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