Islamabad, The Federal Board of Revenue (FBR) has successfully disbursed all verified refund claims to exporters, totaling Rs. 65 billion, as of March 03, 2024. This significant financial release follows directives from the Honorable Prime Minister Mr. Muhammad Shehbaz Sharif, given during his inaugural speech in the National Assembly on March 03, 2024, shortly after his election to the Office of the Prime Minister.
According to Federal Board of Revenue, the completion of these refunds is expected to have a positive impact on Pakistan’s export sector, leading to improved export performance and an increase in foreign exchange reserves. Trade bodies and sectors focused on exports, particularly the textile industry, have lauded the Prime Minister’s decision, anticipating that it will drive economic prosperity and generate additional employment opportunities.
This move by the FBR, under the guidance of the Prime Minister, underscores the government’s commitment to supporting exporters and stimulating economic growth through enhanced international trade.