Millat Tractors terms media's portrayal of President's directive as misinterpreted

By MG News | November 16, 2023 at 04:25 PM GMT+05:00

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November 16, 2023 (MLN): The management of Millat Tractors Limited (PSX: MTL) has asserted that the news circulating in the media regarding the President, Arif Alvi directing the Federal Board of Revenue (FBR) to restore the investigation against MTL over Fraudulent Sales Tax Refund as misinterpreted.

According to the company's notice issued to the local bourse today, the press conference conducted at the FTC office does not accurately represent the factual position of the matter and is legally incorrect.

"In actual fact, the President in his order had declined to interfere in an ongoing matter between the taxpayer and FBR," the notice further reads.

Moreover, the company is reviewing the reported press conference and the President's order and shall take up the matter at relevant legal forums to take remedial measures.

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