ISLAMABAD: Dr. Abdul Hafeez Shaikh here on Friday directed to issue sales tax refund bonds to the claimants through Central Depository Company (CDC).

While speaking to the ceremony held at the Ministry of Finance, Adviser to the Prime Minister on Finance, Revenue, and Economic Affairs issued sales tax refund bonds to facilitate the business community.

Hafeez Shaikh said, “The bonds amounting to Rs.7 bn were being issued in the first tranche and this issuance shall benefit 90 claimants. Federal Board of Revenue (FBR) was planning another issuance next month.”

He added to this note that the advisor said to the applicants to exercise their option for issuance of bonds and provide their CDC accounts to FBR so that they can be accommodated in the next issuance.

Earlier, FBR had issued an advisory to the State Bank of Pakistan (SBP) for making payment of sales tax refunds amounting to Rs. 7,236 million to facilitate exports.

The payment would benefit 898 claimants involved in exports of textile, carpets, leather, sports goods, surgical instruments, rice, food items, machinery, and other items, said FBR statement.