Islamabad: The Federal Government of Pakistan may grant exemptions in taxes and duties for business activities conducted in Gwadar Port and Free Zone, reported a news source.
In this regard, the Maritime Division has sent a summary for approval before the Economic Coordination Committee (ECC). In today’s session, which will be presided over by Finance Minister Asad Umar, the ECC will deliberate on this report.
The Maritime Division has also requested an approval for the duty-free import of machinery and shipments for construction of the Eastbay Expressway. This project is of strategic importance to the China-Pakistan Economic Corridor (CPEC) initiative. Eastbay Expressway will connect Gwadar Port with the country’s network of highways and motorways.
The Ministry of Maritime Affairs has requested the Federal Board of Revenue (FBR) to grant the exemption in taxes and duties for import of machinery for the project.
Eastbay Expressway was launched with the sanction of the Executive Committee of National Economic Council in September 2017. Ministry of Maritime Affairs is supervising the project.
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