ISLAMABAD: The Federal Board of Revenue (FBR) has developed and placed new refund payment system known as FASTER for release of multi-million rupees reconciled refunds to exporters.
“Yes we have placed FASTER and first batch of refunds worth millions of rupees will be released to exporters today especially for those five major export-oriented sectors including textile where zero-rating regime was abolished in the budget for 2019-20”, top official sources confirmed.
The total demand of refunds has amounted to Rs1.2 billion but the reconciled amount would be standing into millions of rupees that would be released through FASTER system.
