Exemption of import duty sought in Gwadar Free Zone

Exemption of import duty sought in Gwadar Free Zone

The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) held a meeting with the Chairman of the China Overseas Port Holding Company (COPHC), Zhang Baozhong where they discussed the economic development underway in Gwadar, as part of the China-Pakistan Economic Corridor (CPEC). The President of FPCCI, Daaroo Khan Achakzai requested the Chairman of COPHC to provide tax exemptions for export industries in Gwadar, which the Chairman thoroughly acknowledged, and said that he would request the Chinese government to give a waiver of six percent.

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has sought duty-free access to Chinese market for exports from the industry setup in Gwadar Free Zone, a statement said on Friday.

A delegation led by FPCCI President Daaroo Khan Achakzai called on China Overseas Ports Holding Company (COPHC) Chairman Zhang Baozhong and discussed industrial development in Gwadar.

“Bao assured the FPCCI delegation that he will recommend the Chinese government to waive six percent import duty for the export industry setup in Gwadar Free Zone,” Achakzai said.

The meeting was informed that electricity would be provided to industries setup in Gwadar Free Zone on subsidised rates, while COPHC would provide all the infrastructure and water to the industry, while arrangements were being made for gas supply.

Siddique Sons Chairman Tariq Rafi said that they would consider setting up industrial unit in the Gwadar Free Zone for exports to China, if the import duty was waived.

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