Monday, 01 June 2020, 05:03:58 pm
Govt releases Rs100 bln to industry in tax refunds
April 03, 2020

The government has released 100 billion rupees to industry in tax refunds under the stimulus package of 1,240 billion rupees announced by the Prime Minister.

Advisor to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh in a statement termed it as an unprecedented step taken by the government to support business and employment in difficult times.

The tax refunds released to the industry are the highest in the country's history.

Dr Hafeez Shaikh further said the stimulus package aims to address the liquidity challenges faced by the industry.

During the current fiscal year, the government has so far released 163 billion rupees in tax refunds to industry under GST and income tax, which is over 61percent increase from 101 billion rupees released in last fiscal.