ECC allows tax exemptions for CPEC development projects

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ISLAMABAD: Finance Minister Ishaq Dar chaired a meeting of the Cabinet’s Economic Coordination Committee (ECC) at the Prime Minister’s Office on Friday which provided tax exceptions to various development projects.
The committee accepted the Punjab government’s request to grant exemptions on E &M contract prices beyond six per cent by approving the Planning, Development and Reform Division’s proposal.
In addition exemptions on tax and duties on the import of equipment for the Lahore Orange Line Metro Train Project were also approved.
The committee also agreed to provide similar dispensation to mass transit projects in the other provincial capitals, highlighting that all rail-based mass transit projects had been made part of the China-Pakistan Economic Corridor at the recently concluded 6th Joint Cooperation Committee meeting held in Beijing.