OICCI, LTO Karachi discuss PKR 109bn in pending tax refunds OICCI on Tuesday hosted a delegation from the Large Taxpayers Office (LTO), Karachi, to discuss pending tax refunds worth PKR 109 billion, including PKR 83 billion by Karachi-based members of the Chamber. The meeting, led by LTO Commissioner Refund Zone Mukhtiar Ahmed Shar, focused on verification requirements, delays in refund settlements and communication gaps in the claims process. LTO officials reviewed concerns raised by member companies and assured that the cases would be taken up for review.

OICCI acknowledges the State Bank of Pakistan’s decision to increase the policy rate by 50 basis points to 12%, recognizing the need to contain inflationary pressures and safeguard macroeconomic stability amid persistent global energy-price risks. However, with LSM growth recovering to 1.9% during July–August FY27 and private-sector credit expanding by 14.1% year-on-year, it is equally important to sustain the emerging momentum in investment and economic activity. As inflationary pressures are significantly influenced by external energy prices and domestic supply constraints, OICCI emphasizes that monetary tightening must be complemented by targeted supply-side reforms, fiscal discipline, competitive energy tariffs, broader tax-base coverage and predictable taxation and regulatory policies.