Gwadar made tax-free zone for 30 years

ISLAMABAD: The cabinet committee on Gwadar on Thursady declared the city tax-free zone for 30 years and said the government would not tax businesses in Gwadar industrial zone and would provide every facility to attract foreign and domestic investment, sources said.

The committee met at the Ports and Shipping ministry with minister Babar Khan Ghouri in the chair. Federal Agriculture Minister Sikandar Hayat Khan Bosan, Textile Minister Mushtaq Cheema, ports and shipping secretary and senior officials attended the meeting.

The committee said the tax-free zone at Gwadar would encourage investment, adding that the government would provide facilities and investment environment of international standards.

The committee said, “Like export processing zones, labour laws would not be effective in Gwadar.” The committee approved provision of electricity, water, gas, telephone and other facilities to Gwadar residents at lower rates.

Babar Ghauri said Gwadar promised a bright future for the country and efforts were being made to provide international facilities to domestic and foreign businessmen. He said development in Gwadar would not only improve the region’s socio-economic conditions but would also make Balochistan the country’s most developed province.

He said the cabinet would endorse proposals approved by the committee on Gwadar in its coming meeting. online

Source: Daily Times