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ISLAMABAD, May 29 (APP):Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan on Thursday held a meeting with the delegation of Utopia Industries to discuss the pending sales tax and income tax refunds, which have been delayed since April 2024.
Utopia Industries, a leading exporter of mattress covers, pillows, comforters, and plastic products, has faced significant delays in receiving refunds despite submitting all necessary documentation. This delay has resulted in reduced production capacity, salary payment issues for employees, and other operational challenges, said a news release.
Haroon expressed his full understanding of the difficulties faced by Utopia Industries and emphasized that delays in refunds are causing a severe economic setback for the industry. He highlighted the urgent need to expedite the cash flow process to prevent further losses to the industrial sector.
He arranged a discussion between Utopia Industries and the Chairman of the Federal Board of Revenue (FBR). The FBR Chairman assured the delegation of timely payment of the outstanding refunds.
The SAPM reaffirmed the government’s commitment to providing full support to Utopia Industries. The industry representatives expressed their gratitude towards Prime Minister Shehbaz Sharif and Haroon Akhtar for their prompt and effective intervention.
Haroon Akhtar reiterated that PM Shehbaz Sharif is working tirelessly to resolve public issues and facilitate the business community.
Utopia Industries ranks among the top two sellers on Amazon with an annual revenue of $170 million.