The Federal Board of Revenue (FBR) has completed the disbursement of Rs 65 billion in outstanding refunds to exporters as of March 3, 2024. This action follows the instructions of Prime Minister Muhammad Shehbaz Sharif, which he emphasized during his inaugural address in the National Assembly after being elected prime minister.
This step taken by the FBR is expected to have a positive impact on Pakistan’s exports, which in turn would contribute to an increase in the country’s foreign exchange reserves. The decision to release these funds has been well-received by trade organizations and sectors focused on exports. They believe that this financial move by the prime minister will lead to economic growth and the generation of more employment opportunities, especially within the textile sector.
