Automatic refund system to boost exports

Lahore, July 29, 2016 (PPI-OT): The President APBF Ibrahim Qureshi asked the government to consider automatic refund mechanism which will reduce complaints, ensure transparency and boost exports.

Government should consider automating the refund system which will allay concerns of the business community and reduce load on the FBR, said Ibrahim Qureshi.

He said that automatic refunds would end delay in payments and trigger exports which are going down since some years due to international recession.

Government can install software which can process the refund claims and transfer money in the account of exporter within seven days of export.

Mr.Qurashi said that if transactions in through bank cheques, credit and debit card can be updated within seconds, the same can be applied to export refunds.

He said that sometimes Refund Payment Orders are issued but exporters are not paid in time which hit their businesses.

Liquidity problem has taken toll on many exporters and some have no option but to get costly credit from market to fulfil commitments, he noted.

He lauded the zero-rating facility for important export sectors saying that the bold step would provide the much need relief to the exporters who were really burdened due to sales tax and severe liquidity crunch.

Many exporters were fighting a losing battle in the global markets due to stiff competition but now situation has changed, he observed.

Issues relating to providing a level playing field to the exporters in terms of cost of energy, labour and local levies should also be resolved at the earliest to enable the exporters to compete in the global market with competing nations, he demanded.

For more information, contact:
M. Rafi Ullah Khan,
Manager Admin,
All Pakistan Business Forum (APBF)
Suite # 908, 9th Floor, EDEN Heights,
6-Main Gulberg, Jail Road, Lahore, Pakistan
Tel: +92-42-35786767, +92-42-35088717
Cell: +92-321-4000479
E-mail: info@apbf.com.pk
Website: www.apbf.com.pk