Motiwala for out of turn release of IT refunds to small traders, SMEs

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Staff Reporter

Karachi

Chairman Businessmen Group (BMG) & Former President Karachi Chamber of Commerce & Industry (KCCI) M. Zubair Motiwala has stressed that the pending Income Tax Refund Claims of small traders, shopkeepers and the SMEs must be calculated out of the turn and the claims of around Rs50,000 to Rs100,000, whose assessment has been completed, should be released on top priority which would bring some relief to the lives of small businessmen during the ongoing extraordinary situation caused by Covid-19 pandemic.
“Blocking such refunds oppresses small businesses which continue to face serious cashflow problems. We have no idea how long the Covid-19 pandemic would last and it is a well-known fact that almost every household is a victim of this pandemic therefore, the government will have to provide relief as it is totally uncertain where the businesses will land up in the days to come”, he added while speaking at a meeting of Small Traders held at KCCI.
The meeting was also attended by General Secretary BMG AQ Khalil, President Karachi Chamber of Commerce & Industry M. Shariq Vohra, Senior Vice President KCCI M. Saqib Goodluck, Vice President KCCI Shamsul Islam Khan, Chairman of KCCI’s Special Committee for Small Traders Majeed Memon, Former Senior Vice Presidents Javed Bilwani and Muhammad Ibrahim Kasumbi, Former Vice President Talat Mehmood and KCCI Managing Committee Members along with representatives of several commercial markets from all over Karachi.