Hafeez Shaikh decides to hold separate meetings on gas, power subsidies

ISLAMABAD: Special Adviser to Prime Minister on Finance, Abdul Hafeez Shaikh, has directed the Federal Board of Revenue (FBR) to clear all income tax refunds up to Rs50 million besides devising a strategy for the remaining refunds, ARY News reported on Thursday.

Abdul Hafeez Shaikh issued the directives while chairing a high-level meeting to review the economic situation.

The PM’s aide said that the authorities had released tax refunds worth Rs140 billion last year, whereas, the next issuance up to Rs40 billion refunds will be made in the next two weeks.

The participants of the meeting have also discussed the matters related to the subsidies to the gas, power and zero-rated export sectors.

It has been decided to summon the separate session for holding the consultations over the provision of subsidies of Rs20 billion to the gas and power sectors.