Mohsin Siddiqui (Chief Reporter)

Pakistan’s export sector, the Federal Board of Revenue (FBR) announces the disbursement of all outstanding refunds totaling Rs65 billion to exporters. The breakdown of refunds reveals Rs60 billion allocated under the sales tax category and Rs5 billion under income tax.

This decision follows directives from Prime Minister Muhammad Shehbaz Sharif, who emphasized the importance of addressing pending refunds during his inaugural speech at the National Assembly on March 3, 2024, shortly after assuming office.

The timely issuance of refunds is expected to catalyze export activities, contributing to the enhancement of Pakistan’s foreign exchange reserves. Trade bodies and export-oriented sectors applaud the Prime Minister’s initiative, recognizing its potential to stimulate economic prosperity and generate employment opportunities, particularly within the textile industry.

As Pakistan’s export prospects receive a boost through the clearance of refunds, stakeholders anticipate positive growth momentum, highlighting the government’s commitment to facilitating trade and fostering a conducive environment for economic development.