ICST supports refund rules

Islamabad : The business community supports the government’s decision to implement new refund rules from August which will encourage the exporters, Patron in chief of Islamabad Chamber for Small Traders, Shahid Rasheed Butt said Monday.

The zero-rating facility was withdrawn after an IMF deal which has panicked exporters but the new rules will relieve them of the pressure, said Shahid Rasheed Butt who is also former President ICCI.

He said that exporters would get refunds within 72 hours of filing monthly returns through an automated system which will provide space to the exporters.

Shahid Rasheed Butt said that refunds worth 155 billion rupees which are due since years should be released to boost the export sector as exports are tied to national development without which country will remain dependent on foreign loans.