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KARACHI, September 23, 2026: Pending Income Tax and Sales Tax refunds of member companies of the Overseas Investors Chamber of Commerce and Industry (OICCI) have reached approximately Rs102.8 billion, putting continued pressure on the liquidity and working capital of some of Pakistan’s major foreign investors.
According to the updated position shared by OICCI with the Federal Board of Revenue (FBR), the outstanding amount comprises nearly Rs68 billion in Income Tax refunds and Rs34.8 billion in Sales Tax refunds as of August 2026.
In a letter to FBR Chairman Rashid Mahmood Langrial, OICCI said the overall refund position had remained largely unchanged despite the matter being discussed during a meeting with FBR leadership at Custom House, Karachi, on August 5, 2026.
The chamber expressed concern over the prolonged delay in settling legitimate refund claims. It said the continued pendency was restricting funds available to member companies for routine operations, business expansion and future investment.
OICCI noted that many of its member companies are among Pakistan’s largest foreign investors and make significant contributions to the national economy through investment, employment, tax payments and technology transfer.
The chamber said timely settlement of outstanding refunds was important for strengthening investor confidence and improving Pakistan’s ease-of-doing-business environment.
OICCI has requested the FBR chairman’s personal intervention for the early resolution of the issue. It also urged the tax authority to settle the pending Income Tax and Sales Tax refund claims on a priority basis.
