Gwadar gets 40-year tax holiday

KARACHI: The government proposed 40-year sales tax and federal excise duty exemptions on imports and supplies to Chinese firm for the development of Gwadar port and Gwadar Free Zone.

The exemption was granted to China Overseas Ports Holding Company Limited (COPHCL) and its operating companies, their contractors and subcontractors, which hold the concession agreement.

The government authorised the Ministry of Ports and Shipping to check usage of imported materials and equipment for the construction and operation of Gawadar port and development of Free Zone.