Saturday , January 23 2021
Breaking News
Home / Breaking News / Govt exempts QABP from duty, taxes on import of industrial machinery
Govt exempts QABP from duty, taxes on import of industrial machinery

Govt exempts QABP from duty, taxes on import of industrial machinery

LAHORE: The federal government has granted a concession of tax holiday and exemption of duties and taxes on import of industrial machinery in Quaid-e-Azam Business Park (QABP).

Meanwhile the electricity supply is up to 2.2 megawatt is available for those who immediately are interested to set up their industrial units. Furthermore, the gas pipeline infrastructure is almost ready.

This was stated by Syed Nabeel Hashmi, chairman Punjab Industrial Estates Development & Management Company (PIEDMC) in a meeting with a delegation of Pakistan plastic manufacturers Association (PPMA), led by its chairman Khalil Ahmed.

The chairman PIEDMC informed that consumption of plastic products had reached to $ 1.2 trillion globally and united states and china are the biggest consumers. There are lot of opportunities for the local industry to get export orders from both the countries that is if they produce quality products. He offered them to set up plastic manufacturing units in Quaid-e-Azam Business Park Special Economic Zone, where a congenial atmosphere has been provided to investors and industrialists. Intending to build industrial units there accord to the availability of necessary facilities for this purpose.

Talking about QABP he said that a levied package will be provided to all those investors who would purchase more than 25 acres of land for their industrial set-ups in Quaid-e-Azam Business Park (QABP). This will also be provided on relaxed payment plans. With completion of QABP project, new job employment opportunities of more than half million will be created in the province of Punjab. Ushering an era of development according to the vision of PM Imran Khan, he added.

The COO PIEDMC, Ali Muazzam Syed, briefed the delegation that an advisory board for Quaid-e-Azam Business Park has been constituted in order to speed up development work in QABP. The Advisory board members include public representatives and experts from various economic fields and will be nominated for a period of one year. He said that these members would serve for industrial development and improvement in this industrial zone.