Prime Minister Muhammad Shehbaz Sharif Wednesday directed abolition of all taxes on the raw materials of export industry as part of his government’s vision to develop an export-oriented economy. In a meeting with a delegation of the American Business Council, the prime minister also directed formation of task forces to attract investment in multiple sectors. The task forces would be formed in the fields of tourism, pharmaceuticals, information technology, e-commerce, large-scale manufacturing, and agriculture. Shehbaz informed the delegation that the government was making efforts to ensure production of export quality agricultural products. He said it was for the first time that the government was calling for consistency of policies as the subjects of the national economy and public welfare were above politics. The delegation comprised representatives from pharmaceuticals, food processing, IT, e-commerce, retail, textile, sports, and logistics sectors. The participants said the government’s policies had helped revive the investors’ trust and the pre-budget consultation with the stakeholders was a welcoming step. The prime minister directed the secretary commerce as well as secretary Board of Investment to ensure immediate resolution of the issues faced by the investors and sought a compliance report within a week. Federal ministers Syed Naveed Qamar, Makhdoom Murtaza Mahmood, Marriyum Aurangzeb and senior officers attended the meeting.
PM abolishes taxes on raw materials of export industry
Prime Minister Muhammad Shehbaz Sharif Wednesday directed abolition of all taxes on the raw materials of export industry as part of his government’s vision to develop an export-oriented economy. In a meeting with a delegation of the American Business Council, the prime minister also directed formation of task forces to attract investment in multiple sectors. […]
