ISLAMABAD, Aug 24 (INP) The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Wednesday lauded Prime Minister Nawaz Sharif’s decision to pay all unpaid sales tax refunds to vital export sectors by October. It also praised the PM for handing over cheques amounting to Rs 21.44 billion to exporters so that they can play their role in national development more affectively.

We urge Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar to support the business community so that they can invest in new areas to boost exports, provide jobs and ensure a rapid pace of development, said Abdul Rauf Alam, President FPCCI.

He said that the economic turnaround was visible; the country is heading towards peace and stability while the terrorists are on the run.

Rauf Alam said that the tax revenue has been increased to Rs 3,100 billion; inflation and load shedding are declining; resources increasing and the rupee is stable which is encouraging.

President FPCCI said that peace in Pakistan would bring in much needed foreign investment for external sector and said that more electricity would power the economy.

Rauf Alam said that a network of motorways and expressways was being built to link all major commercial, industrial and agricultural centres and the north-south connectivity under the China Pakistan Economic Corridor (CPEC) would usher in an era of prosperity in the country.

International institutions had acknowledged the robust growth rate in Pakistan. 

Meanwhile, Secretary General of the United Business Group (UBG) Zubair Tufail lauded the government for releasing refunds which will infuse new blood in the export sector.

He asked the government to release all stuck up refunds by October so that external sector can get rid of liquidity crunch to boost exports which are imperative for a stable economy.