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Government to reassess tax & tariff regarding EPZs

06
Nov '06
In order to enhance foreign investment, Government of Pakistan will be reassessing all matters concerning taxes and tariffs, inclusive of R&D support for garment units in Export Promotion Zones (EPZs).

Official sources informed that Government will completely analyze current tax and tariff matters under guidance of Ministry of Commerce and Central Board of Revenue (CBR), after which Prime Minister Shaukat Aziz will examine these matters.

As a policy to attract the required foreign investment, prevailing tax and tariff rates were to be lowered for industries to be established in EPZs.

Ministry of industries, production and special initiatives has been directed by the Government to prepare a long term plan to lure national and international investment in EPZs.

As instructed by Shaukat Aziz, Export Promotion Zone Authority (EPZA) has been directed by Ministry of Industries to build an intelligent strategy comprising a fierce marketing plan, taking into consideration the policies used by Malaysia, India, Thailand and Bangladesh to enhance EPZ investments.

Many short term plans will be made for implementation on basis of this strategy, to ascertain sufficient foreign investment in EPZs.

An EPZ is to be set up at Gwadar under regulation of Ministry of industries and production with the aim of turning it into a model zone.


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