FBR’s LTU freezes all bank accounts of KESC

KARACHI: The Federal Board of Revenue’s Large Taxpayers Unit (LTU) has frozen all bank accounts of the Karachi Electric Supply Company (KESC) over default on Tuesday. According to KESC spokesman, the FBR’s LTU, Karachi has taken coercive measure against the power utility – KESC – for recovery of alleged default surcharge of Rs 152 million by serving notices to the commercial banks, despite the fact that the sales tax refunds of more than Rs 1,600 million are pending with the LTU. The spokesman said, “This coercive measure has been taken by LTU, Karachi without considering the fact that the levy of alleged default surcharge is sub-judice before the higher appellate forums.” “The action taken by the LTU, Karachi is entirely unjust and against justice,” he added. – Dailytimes