The Pakistan Vanaspati Manufacturers Association (PVMA) has replaced its chairman, Babu Ibrahim, and promoted Senior Vice Chairman Shaikh Ikram to the office. Babu was elected to the office for one-year term last October.
Ibrahim faced severe criticism from his fellow PVMA members for his poor performance as chairman soon after getting the office. A PVMA executive member told Business Recorder on Monday that Ibrahim had resigned last week and Shaikh Ikram had been given the charge for the remaining term.
Ibrahim's resignation would be hot issue on Tuesday when the PVMA executive body meets here to take up some other issues. Ikram would chair the meeting.
The meeting is believed to take up controversial issue of sales tax refund. Ghee industry is waiting for refund of billion of rupee for 2002-03. The refund was to be paid within 60 days. These 60 days have extended to over one year and industry is yet to get its rightful refund.
The PVMA is in a fix over the issue. The CBR has promised more than once to resolve the issue amicably but controversy is yet to be overcome.
Sources said the PVMA may take some hard decision to force CBR to pay refund to its members.