OICCI Urges FBR to Release Rs103 Billion Refunds

The Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the Federal Board of Revenue (FBR) to expedite the release of approximately Rs103 billion in outstanding tax refunds owed to its member companies as of June 2026.

In a letter addressed to FBR Chairperson Rashid Mahmood Langrial, the chamber stated that the pending claims comprise nearly Rs68 billion in income tax refunds and approximately Rs35 billion in sales tax refunds.

According to the OICCI, the updated figures were compiled from its member companies following an earlier communication submitted to the FBR on June 3 regarding the same matter.

The chamber highlighted that prolonged delays in refund disbursements are placing significant pressure on the liquidity and working capital of its members, many of which rank among Pakistan’s largest foreign investors.

It further noted that the slow processing of verified refund claims is disrupting business operations, affecting cash flow management, and creating concerns regarding the efficiency of Pakistan’s tax administration, policy consistency, and overall ease of doing business.

The OICCI emphasised that a transparent, efficient, and predictable tax refund mechanism is essential for maintaining investor confidence and supporting the country's efforts to attract and retain foreign direct investment.

Accordingly, the chamber requested the FBR Chairperson to intervene and facilitate the early settlement of all verified refund claims pending with the tax authority.