PTI senator questions 23-year tax holiday to Chinese firms

PESHAWAR: Expressing his reservations on offering 23 years tax holiday to Chinese firms and not to Pakistani companies and investors, Senator Nauman Wazir on Tuesday said that the influx of tax-free construction material from China would seriously hamper
the existing industries in the country.
Speaking at the Institute of Architecture Pakistan, Peshawar, he said that the high markup and insurance premium charged by the Chinese investors in the power projects under China-Pakistan Economic Corridor (CPEC) would result in high electricity cost for the industry in Pakistan.
Senator Nauman Wazir, who belongs to the Pakistan Tehreek-e-Insaf (PTI), said it would lead to higher production cost and make Pakistani products non-competitive in the international market.
He expressed his reservations over the financial viability of the Khunjerab-Gwadar road and infrastructure. At present, he said, the goods transportation from Xinjiang in China to Dubai through eastern port of China costs the Chinese exporters $130 per ton and takes 22 days.
However, he pointed out that the same goods transported through Gwadar port would cost the Chinese exporters $50 per ton only. The Chinese exporters sending goods from Xinjiang to Gwadar would not only save $80 per ton but also 15 days of transportation time, he added.
"To make Khunjerab-Gwadar road sustainable and financially viable, a toll tax of 2.50 percent of the invoice value would need to be charged from the Chinese exporters," he maintained-. Senator Nauman Wazir also showed his apprehension that the government was not deciding the toll charges prior to launching CPEC projects. He also highlighted the infrastructure and power projects under CPEC).
Earlier, he spoke about the importance of architecture in not only buildings but also the infrastructure being built across Pakistan. He appreciated Brighto Paints for setting up 3.1 million litres of paint manufacturing plant at Faisalabad and 1,100 tons/day of steel manufacturing facility of FF Steel being established in Lahore.