FAISALABAD: The Federal Tax Ombudsman Dr. Asif Mahmood Jah has said that his office is providing full services to masses as a public relief-oriented institution. The FTO has introduced a fast system for the registration of complaints and are formulating strategies for quick resolution of tax payers’ problems.
Addressing the members of Pakistan Textile Exporters Association (PTEA) here on Monday, he said that textile industry is the backbone of the economy; whereas textile exporters are playing vital role in economic development of the country.
No country could achieve economic targets without the due role of exporters; therefore, his office is taking all out measures to address the exporters’ grievances and rectify the complaints by carrying out independent and transparent investigations about tax maladministration.
He described that an online FTO portal is being launched in order to provide facilitation to tax payers. Dr. Asif Mahmood said that FTO has developed a very simple complaint filing procedure as any aggrieved person could file complaint personally or through courier service, email, online and fax. He said all the complaints were promptly acknowledged by the FTO HQs or its Regional Offices.
He asked business community to give their suggestions to further streamline the complaint redress system of FTO.
Earlier PTEA’s vice Chairman Muhammad Idrees, in his welcome address, said that textile industry has an overwhelming impact on the economy with its 60% share in exports; whereas textile exporters are major stake holders in foreign exchange earnings and generating employment.
The country is now passing through difficult times. Inflation is backbreaking, the rupee’s value has fallen sharply, and foreign reserves have dropped to the historic low level. All these are destabilizing the economy with every passing day.
A number of businesses have partially or completely shut down due to the lack of access to dollars to import raw material and machinery. Dollar shortage had increased the cost by 20 percent due to demurrage /detention and delays. This crisis like situation has put severe adverse impact on all segments of the economy especially the textile industry.
Industrial activities have been squeezed and a substantial number of jobs have been lost and many more are to follow. This is the time to step up sensibly and support the export sectors for earning of precious foreign exchange as export sector has the ability to put the economy on track and steer Pakistan towards economic prosperity.
Pointing out major issue, the former Chairman Azhar Majeed Sheikh said that liquidation of refunds and automation of sales tax has released the financial stress; however still huge amount of exporters is stuck with FBR in tax refunds. He requested the FTO to look into the matter as major portion of exporters’ working capital is stuck in refund regime, creating severe financial stress.
He stressed that FTO should play role in release of such refunds that would help in addressing liquidity issues of taxpayers.
Later, PTEA insignias were presented to the Federal Tax Ombudsman Dr. Asif Mahmood Jah. A large number of textile exporters including Advisor Incharge FTO Faisalabad Dr. Muhammad Akram Khan were also present in the meeting.
Copyright Business Recorder, 2023
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