Salt exporters demand tax refunds

KARACHI: The salt exporters are facing a severe liquidity crunch as millions of dollars in sales tax refunds are stuck with the authorities, the industry body said on Thursday.

Qasim Yaqoob Paracha, chairman of the Salt Manufacturers Association of Pakistan (SMAP), said the delays in refund payments were hurting the cash flow and competitiveness of the salt export sector, which contributes significantly to the national economy.

“With the current economic conditions worsened by huge rise in the cost of capital, the industry’s competitiveness is at risk, hindering its growth prospects,” Paracha said in a statement. He urged the authorities to expedite the release of the refunds to help the salt exporters overcome their financial difficulties and boost their exports.