China promised tax exemptions in Gwadar Free Zone

ISLAMABAD: Welcoming the progress on the construction of the Initial Zone of Gwadar Free Zone, Pakistan promised sales tax and other exemptions to China for 23 years, including exemptions on equipment and material locally purchased for industrial units that will be established.

To overcome obstacles and promote development in the Gwadar Free Zone, both the countries have decided on local tax breaks in the Balochistan province and installation of fibre optic for communication by the Pakistani side.

Pakistan has set a piece of legislation to be presented before the Parliament for promulgation into an act to speed up the construction of infrastructure and assistance projects including the New Gwadar International Airport (NGIA), Gwadar Vocational and Training Centre, expansion of China-Pakistan Government Faqeer Colony Middle School and construction of the Pak-China Friendship Hospital and Eastbay Expressway.

Following the completing Phase-1, all the plots have been leased out to more than 30 Pakistani and Chinese investors registered in the Free Zone.

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