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KCCI welcomes refunding of ST by mid April

KCCI welcomes refunding of ST by mid April

KARACHI: Karachi Chamber of Commerce and Industry President Abdullah Zaki has warmly welcomed the Federal Finance Ministry’s decision to settle refund claims of 26,000 cases by April 15, 2014 whose refund claims are less than Rs 1 million.

Abdullah Zaki pointed out that a total of 36,000 cases pertaining to refund claims were lying pending at Federal Board of Revenue, of which claims of 26,000 cases were less than Rs 1 million.

In a statement issued, Abdullah Zaki appreciated the Federal Finance Minister Ishaq Dar for directing the authorities to settle refund claims of 26,000 cases which will certainly provide a sigh of relief to exporters who were pretty much concerned about the likely losses to be suffered by them due to depreciation of US dollar.

Government has shown that it has given the task of economic revival to intellectual policymakers who are trying their best to effectively pull the country out of crisis under the leadership of Prime Minister Nawaz Sharif and the supervision of Finance Minister Ishaq Dar.

Abdullah said that weakening of dollar against rupee and other economic indicators have showed signs of improvement and have helped restore the confidence of local business community and foreign investors, who believe the economy is on the right path to progress and prosperity.

He further hoped that the government will continue to unveil such pro-business initiatives in the days to come as only these steps can rescue Pakistan’s economy from the clutches of IMF. “We are ready to utilize all our expertise and resources to promote industrialization and expansion in the country but the government must also continue to support the business community and refrain from taking anti-business moves which would ensure further progress and prosperity for the country”, he added.