Islamabad: The Economic Coordination Committee (ECC) has sought further suggestions with regard to making Gwadar a tax-free zone – a news source reported.
Officials of the Ministry of Maritime Affairs gave briefings on various concessions initially proposed for Gwadar Port. These officials requested ECC to extend the benefits to the Gwadar Free Zone.
Adviser to the Prime Minister for Commerce Abdul Razak Dawood expressed his reservations on the proposals. He was of the view that any preferential treatment meted out to the Gwadar zone would not be beneficial for the other economic zones. Moreover, the meeting was informed that Finance Minister Asad Umar shared similar views on the matter.
In response, ECC deferred the proposal of providing tax concessions to Chinese companies working on the multi-billion CPEC initiative. It also directed the Board of Investment (BOI), Ministry of Planning, Ministry of Maritime Affairs, Law Division, and the Federal Board of Revenue (FBR) to review the proposals.
