In a letter written to the Chairperson FBR by the All Pakistan Textile Mills Association on March 10, a copy of which is available with Business Recorder, said that despite repeated reminders and oral assurances by the Board, the needful has not yet been done and the very important aspects, especially relating to Section 8-B, have not yet been incorporated in the system.

"The above inaction on the part of concerned officials has played havoc with the system which has almost been stalled and the exporters are neither able to file the requisite Annexure H nor claim admissible amount of sales tax refund," the APTMA said.

The APTMA requested the Chairperson FBR to look into the matter personally and incorporate in the same requisite corrections regarding Annexure H to ensure speedy processing of refund of claims.

Few days back, the APTMA had also written a letter to Adviser to Prime Minister on Commerce, Textile, Industries & Production and Investment Abdul Razak Dawood regarding non-operational 'FASTER'-the FBR's refund system, causing liquidity crisis.

According to the APTMA circles, the estimated monthly refunds outstanding against the Board are in the range of Rs 20 billion. However, FBR has claimed a much smaller figure. Furthermore, the FBR has stated that domestic sales were 50 percent of the total industrial output, roughly $13 billion, but now it has acknowledged that the quantum of local sales is not more than 20 percent, which is $2.2 billion per annum.

Every time, the letter says, the APTMA has asked the FBR as to when the issues with FASTER would be resolved, they have been told time and again that it would be resolved within the next 3 or 4 days.

Copyright Business Recorder, 2020