10-24-2008, 01:21 PM
ISLAMABAD, Oct 23: The Ministry of Industries and Production has proposed zero-rating of sales tax on supply of construction material to the Gwadar Export Processing Zone and its investors for development of infrastructure.
The proposal was submitted in the first meeting of the committee constituted by the ECC on package of incentives for the export processing zone under the chairmanship of advisor to the prime minister on industries and production Manzoor Ahmed Watto.
The committee also proposed to give permission to export up to 80 per cent of the production from the zone to the tariff area of the country on payment of usual duties. The committee proposed tax holiday for 20 years from the commencement of commercial operation of the project under the incentive package for development of Gwadar Export Processing Zone. Exemption from stamp duty was also suggested.
The committee recommended that incentives for exports available to projects established anywhere in the country should be applicable to exports from the projects in the zone.
Provision of plots was proposed to investors on lease (as per existing EPZA procedure) at a reasonable rate, to be determined in consultation with the government of Balochistan keeping in view the size of investment.
Manzoor Ahmad Watto proposed to constitute an administrative body to look after the affairs of development of the Gwadar zone and added that industrial plots should be allotted only to those who are sincere in establishing industry.
The representative of the Balochistan Government, Ahmed Baksh Lahry said all policies regarding development of Gwadar project should be framed keeping in view the needs and desires of the local community.
http://www.dawn.com/2008/10/24/ebr5.htm
The proposal was submitted in the first meeting of the committee constituted by the ECC on package of incentives for the export processing zone under the chairmanship of advisor to the prime minister on industries and production Manzoor Ahmed Watto.
The committee also proposed to give permission to export up to 80 per cent of the production from the zone to the tariff area of the country on payment of usual duties. The committee proposed tax holiday for 20 years from the commencement of commercial operation of the project under the incentive package for development of Gwadar Export Processing Zone. Exemption from stamp duty was also suggested.
The committee recommended that incentives for exports available to projects established anywhere in the country should be applicable to exports from the projects in the zone.
Provision of plots was proposed to investors on lease (as per existing EPZA procedure) at a reasonable rate, to be determined in consultation with the government of Balochistan keeping in view the size of investment.
Manzoor Ahmad Watto proposed to constitute an administrative body to look after the affairs of development of the Gwadar zone and added that industrial plots should be allotted only to those who are sincere in establishing industry.
The representative of the Balochistan Government, Ahmed Baksh Lahry said all policies regarding development of Gwadar project should be framed keeping in view the needs and desires of the local community.
http://www.dawn.com/2008/10/24/ebr5.htm