Islamabad: The government on Thursday announced its decision to repay sales and income tax refunds worth PKR 82 billion within a week, according to news sources. Through this initiative, the executive aims to address cash flow issues and liquidity crunch caused in the wake of the lockdown measure introduced to contain the coronavirus spread.
Advisor to the Prime Minister (PM) on Finance and Revenue Hafeez Shaikh during a video conference with the local business community stated that the government wished to resolve cash flow issues faced by traders and industrialists. He added that sales and income tax refunds would be issued on a timely basis; adding that more than PKR 115 billion refunds and duty drawbacks would be released.
He said that government will study all proposals and offer a comprehensive relief package to the industry. Hafeez also stated that the executive would pay all income tax refunds (amounting to PKR 50 billion) in the next week in a bid to benefit 100,000 taxpayers in the country.