Skip to main content

Gwadar Export Processing Zone may get 20 year tax holiday in Pakistan

US immigration

Friday, 15 February 2008
Economic Coordination Committee (ECC) of the cabinet, which is scheduled to meet on Friday with caretaker Prime Minister Mohammedmian Soomro in the chair, is likely to approve a package of incentives for Export Processing Zone (EPZ) top of which would be grant of 20 years tax holiday. In September last, the ECC under the chairmanship of former prime minister Shaukat Aziz did not approve a similar proposal rather directed the sponsoring ministry ie Industries Ministry to redraft special incentives for the investors interested in setting up industrial units at EPZ of Gwadar.

The sources said, Industries Ministry has now proposed to the ECC that 20-year income tax exemption may be granted as was given to the Gwadar Port developers despite disagreement by the Federal Board of Revenue (FBR) which supports grant of such incentive for not more than five years.

The sources said 1,000 acres of land has already been leased out free of cost, adding that incentives package had been drafted in consultation with concerned stakeholders and admitted that incentives offered by successful EPZs in India, Bangladesh, China, Malaysia and United Arab Emirates (UAE) were more attractive and result-oriented as compared to the regime of incentives operative in Pakistan EPZs.

It had proposed that 1,000 acres of land provided by the Balochistan government free of cost should be declared as EPZ. Sources said that ECC had observed that the proposal submitted by the Ministry did not contain a comparative study of incentives presently available in the existing EPZs in different parts of the country vis-à-vis those being offered in the Gwadar special economic zone.

The ECC would also discuss prices of essential items and availability of wheat and flour to the people especially at affordable rates. Besides, Pakistan Sugar Mills Association''s (PSMA) demands would also come under discussion as the secretaries committee headed by the Minister for Finance Dr Salman Shah did not discuss the issue due to one or the other reasons. The sources said, Ministry of Food, Agriculture and Livestock (Minfal) would brief the ECC about wheat situation and expected price of new crop.

Labels

Labels:

Comments

Post a Comment

Thanks for leaving comments. You are making this discussion richer and more beneficial to everyone. Do not hold back.

Popular posts from this blog

Pakistan Army Must Not Intervene In The Current Crisis - Who To Blame For the Present Crisis in Pakistan ?

By Sikander Hayat Another day of agony and despair as Pakistanis live through a period of uncertainty but still I believe that army must not intervene in this crisis. These are the kind of circumstances when army need to show their resolve of not meddling in the political sphere of the country. No doubt that there will be people in the corridors of power and beyond who will be urging the army to step in and ‘save’ the country but let me tell you that country will only be saved if army stays away and let the politicians decide the future of the country, even if it means that there will be clashes on the streets of Islamabad. With free media in place, people are watching with open eyes the parts being played by each and every individual in this current saga. They know who is right and who is wrong and they will eventually decide who stays in power when the next general election comes. Who said that democracy was and orderly and pretty business ; it is anything but. Democracy ...
108 comments
Read more

Mir Chakar Khan Rind - A Warrior Hero Of Baluchistan & Punjab Provinces of Pakistan

By Sikander Hayat The areas comprising the state of Pakistan have a rich history and are steeped in the traditions of martial kind. Tribes which are the foundation stone of Pakistan come from all ethnic groups of Pakistan either they be Sindhi, Balochi, Pathan or Punjabi. One of these men of war & honour were Mir Chakar Khan Rind. He is probably the most famous leader coming out of Baloch ethnic group of Pakistan. Mir Chakar Khan Rind or Chakar-i-Azam (1468 – 1565 ) was a Baloch king and ruler of Satghara in (Southern Pakistani Punjab) in the 15th century. He is considered a folk hero of the Baloch people and an important figure in the Baloch epic Hani and Sheh Mureed. Mir Chakar lived in Sibi in the hills of Balochistan and became the head of Rind tribe at the age of 18 after the death of his father Mir Shahak Khan. Mir Chakar's kingdom was short lived because of a civil war between the Lashari and Rind tribes of Balochistan. Mir Chakar and Mir Gwaharam Khan Lashari, hea...
31 comments
Read more

Siege - A Poem By Ahmad Faraz Against The Dictatorship Of Zia Ul Haq

Related Posts: 1.  Did Muhammad Ali Jinnah Want Pakistan To Be A Theocracy Or A Secular State? 2. The Relationship Between Khadim & Makhdoom In Pakistan 3. Battle for God; Battleground Pakistan - a time has finally come to call a spade a spade 4. Pakistan - Facing Contradictory Strategic Choices In An Uncertain Region 5. Pakistan, Islamic Terror & General Zia-Ul-Haq 6. Why Pakistan Army Must Allow The Democracy To Flourish In Pakistan & Why Pakistanis Must Give Democracy A Chance? 7. A new social contract in Pakistan between the Pakistani Federation and its components 8. Birth of Bangladesh / Secession of East Pakistan & The Sins of Our Fathers 9. Pakistan Army Must Not Intervene In The Current Crisis - Who To Blame For the Present Crisis in Pakistan ? 10. Balochistan - Troubles Of A Demographic Nature
Post a Comment
Read more