Daily Times

The Lahore Chamber of Commerce & Industry (LCCI) has urged the Federal Board of Revenue (FBR) to release long-pending tax refunds as undue delay is creating financial problems for the business across Pakistan. LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry here Saturday expressed concerns over the impact that non-release of tax refunds were hitting the operational capacity of businesses, particularly small and medium enterprises (SMEs). They said that the business community was facing financial crunch. The delay in the disbursement of tax refunds was worsening the situation as businesses were unable to manage their cash flows effectively.