PTI govt vows to resolve liquidity crunch, cash flow issues

PTI govt vows to resolve liquidity crunch, cash flow issues

ISLAMABAD: 

The federal government has vowed to resolve liquidity crunch, money stream and different associated points being confronted by the trade and companies, mentioned Adviser to the Prime Minister on Finance and Income Abdul Hafeez Shaikh.

Talking at a gathering with main industrialists on Thursday, he added that work on this regard had begun after the federal government launched the gross sales tax and earnings tax refunds in addition to responsibility drawbacks, which have been held up for the previous couple of years.

Shaikh heard numerous proposals and strategies from the businessmen to assist and supply reduction to the industries and guaranteed the contributors that the federal government would rigorously examine all of the proposals and all the main points being confronted by the trade can be resolved.

He additional promised {that a} complete reduction package deal can be supplied to the trade. The adviser briefed the assembly that the federal government had launched Rs52 billion of the claimed Rs57 billion to exporters via the FASTER system and Rs25 billion out of the Rs52 billion gross sales tax refunds for different sectors and industries. “The remaining quantity can be cleared inside the subsequent one week,” Shaikh mentioned.

Equally, the federal government has additionally cleared about Rs30 billion tax refunds below the DLT whereas Rs15 billion responsibility drawbacks had additionally been paid.

“Not solely this, the federal government has additionally determined to pay inside the subsequent week all earnings tax refunds held up since 2014 and this measure alone would profit almost 100,000 taxpayers who can be paid over Rs50 billion price of refunds,” he added.

The businessmen and industrialists, whereas giving proposals and strategies, known as for an inclusive reduction package deal that addressed the wants of the large-scale in addition to small and medium enterprise (SME) sectors.

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