ISLAMABAD, (UrduPoint / Pakistan Point News – 16th Jul, 2020 ) :Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Thursday directed the Federal Board of Revenue (FBR) to make payment of all Income Tax refunds of up to Rs 50 million in the next couple of weeks.
He also directed the board to adopt clear roadmap and strategy for the payment of remaining refunds.
Minister for Industries and Production, Muhammad Hammad Azhar, Minister for Power Omar Ayub Khan, Adviser to the Prime Minister on Commerce Abdul Razak Daqood, Special Assistant to the PM on Petroleum Nadeem Babar, Chairman NA Standing Committee on Finance and Revenue Faizullah Kamoka and Chairman FBR Javed Ghani were also present while a number of businessmen from different parts of the country attended the meeting on Zoom.
He said Income Tax refunds of Rs 50 million will be cleared in the next phase which would be completed within the next two weeks and a total of Rs 40 billion would be spent to pay off all Income Tax refunds of Rs 50 million.
The meeting also discussed issues pertaining to the allocation of power and gas subsidy to the zero-rated and export sector and decided to convene another meeting to build consensus on using the Rs 20 billion kept for the current year for the gas and power subsidy.