Govt providing incentives to local industry for Int'l competitiveness: Senate informed
Ten years income tax holiday and one time exemption on import duties on machinery plant and equipment is also being offered
The Senate was informed today that the government is providing incentives to local industry to improve international competitiveness and local productivity.
Minister for Industries and Production Ghulam Murtaza Khan Jatoi told the House during question hour that investors in Export Processing Zones are also availing the incentive of duty drawback.
He said ten years income tax holiday and one time exemption on import duties on machinery plant and equipment is also being offered.
He said the incentives and facilities also include provision of developed land on competitive rates for thirty years, freedom from national import regulations, one window operation with simplified procedure, all facilities like electricity, gas and water are made available and easy access to sea and air ports.
To a question, Minister for Commerce Khurram Dastgir Khan told the House that total amount of agricultural loans of 21.5 billion rupees waived off to 313,392 borrowers during last ten years.
To another question, Minister for Planning Ahsan Iqbal said that special security division comprising nine army composite battalions and six civil armed forces wings have been raised to provide security to China-Pakistan Economic Corridor Project.
He said all the security personnel are Pakistani citizens as no foreigner could be employed in the security force.
On a point of order, the opposition members claimed that Prime Minister Nawaz Sharif could not provide any documentary evidence to prove himself innocent in Panama Papers case.
They were of the view that Prime Minister should relinquish his office till the completion of the investigation by Joint Investigation Team.
Later, the Opposition members, except MQM,raised anti-Government slogans.
The House has now been prorogued.