Gwadar: The Gwadar Development Authority (GDA) has prepared and submitted a draft to declare Gwadar Special Economic District (SED) a tax-free region, news sources reported on March 21. The tax-free status will be extended to the business for a period of 30 to 35 years.
Reportedly, the proposal for the tax relaxation has been forwarded to the higher-ups and will be decided upon soon. It was told that the GDA is also considering creating a central business zone that would provide firms with high-tech business platforms. The GDA master plan 2050, published in 2019, is supposed to benefit 1.2 million people and generate jobs for skilled labourers and professionals, with an economic output reaching USD 30 billion. The administration has opted not to uproot and relocate the port city’s ancient neighbourhoods as part of the master plan.
Similarly, the historic bazaars and tourist spots will be restored in order to boost tourism and sustainable development. Moreover, the GDA has pledged modifications to the GDA master plan Project Concept-1 (PC-1) that will allow micro-land rules for small-medium enterprises (SME) and boost small firms.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
