SIALKOT: Federal Board of Revenue should release the duty drawback, sales tax and income tax refunds of importers and exporters timely.
As per details, a meeting was held at Sialkot Chamber of Commerce and Industry (SCCI) in which traders said that business community has been facing financial crunch due to delay in refunds by FBR. They revealed that they could not get the duty drawback, income tax and sales tax refunds for ten months.
They have urged the government to simplify the tax collection system to facilitate the business community. They suggested that government should allocate Research and Development funds to upgrade the export oriented industries.
Sialkot exporters, industrialists and traders also said, the encouragement by government was vital for business community as it built trust worthy atmosphere among the traders
They demanded reduction in mark up ratio on loans from persisting 7.5 percent to 3 or 4percent for flourishing the national exports
The Sialkot traders including Muhammad Ishaq Butt, Dr. Sarfraz Bashir, Mian Muhammad Anwar, Khawar Anwar Khawaja, Dr. Nouman Idrees, Ch. Ghulam Mustafa, Sheikh Abdul Waheed Sandal , Sheikh Muhammad Yaqub, Muhammad Younas , Sheikh Ejaz Ahmed Jammu, Muhammad Haneef Khan and others attended the meeting at SCCI.