ECC approves duty, tax exemption for CPEC project
ISLAMABAD: The federal government has allowed duty and tax exemption on import of equipment to be installed for a project under China Pakistan Economic Corridor (CPEC).
Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the Prime Minister’s Office on Friday.
ECC approved the proposal of the Planning, Development and Reform Division at the request of the Government of Punjab to grant exemptions from withholding tax beyond 6 percent of E&M contract price, and from tax/duties on import of equipment to be installed for the Lahore Orange Line Metro Train Project.
The ECC also decided that a similar dispensation would also be extended to the other rail based mass transit projects in Karachi, Peshawar and Quetta at the appropriate time.
The ECC was informed that the Lahore Orange Line Metro Train Project has been made a part of the China Pakistan Economic Corridor (CPEC) along with rail based mass transit projects in other provincial capitals at the recently concluded 6th Joint Cooperation Committee (JCC) meeting held in Beijing, China.