ISLAMABAD – Special Assistant to the Prime Minister Haroon Akhtar Khan met with the delegation of Utopia Industries to discuss the pending sales tax and income tax refunds, which have been delayed since April 2024. Utopia Industries, a leading exporter of mattress covers, pillows, comforters, and plastic products, has faced significant delays in receiving refunds despite submitting all necessary documentation. This delay has resulted in reduced production capacity, salary payment issues for employees, and other operational challenges.
Haroon Akhtar Khan expressed his full understanding of the difficulties faced by Utopia Industries and emphasized that delays in refunds are causing a severe economic setback for the industry. He highlighted the urgent need to expedite the cash flow process to prevent further losses to the industrial sector. In the meeting, Haroon Akhtar Khan arranged a discussion between Utopia Industries and the chairman of the Federal Board of Revenue (FBR). The FBR chairman assured the delegation of timely payment of the outstanding refunds. Haroon Akhtar Khan reaffirmed the government’s commitment to providing full support to Utopia Industries. The industry representatives expressed their gratitude towards Prime Minister Shehbaz Sharif and Special Assistant Haroon Akhtar Khan for their prompt and effective intervention. Haroon Akhtar Khan reiterated that Prime Minister Shehbaz Sharif is working tirelessly to resolve public issues and facilitate the business community. Utopia Industries ranks among the top two sellers on Amazon with an annual revenue of USD 170 million.
Meanwhile, the Ministry of Industries and Production held the second meeting of the committee formed for the development of the Tiles Industry under the chairmanship of Special Assistant to the Prime Minister, Haroon Akhtar Khan. During the meeting, Haroon Akhtar Khan thoroughly reviewed the progress reports submitted by the tiles industry and the Engineering Development Board. He emphasized that the tiles industry must not be allowed to shut down, highlighting its critical importance to the national economy.
Before 2018, a regulatory duty of 55% was imposed on tiles, which led to the annual import of tiles worth approximately 215 million US dollars. The industry currently faces severe cost disadvantages compared to major tile-producing and exporting countries in the region. The cost of production has increased by 72%, primarily due to the rising prices of natural gas and electricity. Haroon Akhtar Khan underlined the need to provide incentives to productive industries like the tiles sector to foster growth and sustainability. He also reiterated Prime Minister Shehbaz Sharif’s clear vision to increase exports and reduce dependency on imports. “Our industries are closing down; we must protect them and steer them toward a path of growth and development,” stated Haroon Akhtar Khan. The committee agreed on continuing efforts to address the challenges faced by the tiles industry and to support policies that enhance its competitiveness both domestically and internationally.
