Package of Rs180bn announced to boost export
Premier expressed faith in media freedom while claiming improvement and progress in various fields
Directed for Immediate construction of Islamabad Metro Bus link from Peshawar Mor to New Islamabad Airport
ISLAMABAD
Prime Minister Nawaz Sharif addressed a conference for the promotion of trade in Islamabad on Tuesday.
Prime Minister Nawaz Sharif has announced an attractive package of incentives of 180 billion rupees to boost exports. He made the announcement at a ceremony attended by members of the business community in Islamabad this afternoon.
The package envisages abolition of customs duty and sales tax on import of cotton. Similarly, customs duty on man-made fiber other than polyester and sales tax on import of textile machinery has also been abolished.
Under the package, duty draw back rates for textile garments would be 7%; textile made ups 6%; processed fabric 5%; Yarn and grey fabric 4%; sports goods, leather and footwear 7%.
The Prime Minister expressed the confidence that the package would help achieve the objective of export-led growth.
Mian Nawaz Sharif said there were many challenges including terrorism, lawlessness, energy shortage, poverty and unemployment when the present government assumed power. He said his Government took bold measures to brace these challenges and today an all round improvement is visible.
The Prime Minister said dozens of power plants are being installed under CPEC besides many others being financed by the Government of Pakistan.
He said their objective is to ensure availability of cheaper electricity on sustainable bass. He said ten thousand megawatts would be added to the system by next year and thirty thousand within the next few years.
Mian Nawaz Sharif said the Government has decided to fund Bhasha Dam from its own resources which would generate 4500 MW of electricity.
He said its power house would be built under CPEC.
He said Pakistan Railways is also being revamped and upgraded with an investment of eight billion dollar. He said the improvement plan envisages doubling the speedy and halving the distance between Karachi and Peshawar.
The Prime Minister said a network of roads, highways and motorways is being laid at a cost of one thousand billion rupees integrating different regions of the country.
He said interest rate is lowest in the history of the country and the Government is facilitating investors.
The Prime Minister said his Government had announced a package for agriculture and today a package for industry has been given. He hoped that development of these sectors would help overcome problems like unemployment, ignorance and backwardness and put Pakistan on fast track progress.
In his speech, Finance Minister Ishaq Dar said the Prime Minister has accepted all demands of the business community.
He said the government is providing liberal incentives to the business community and it is now responsibility of the exporters to increase the exports significantly.
He claimed that a new Pakistan is on the rise and we are heading towards a social change. “The country is moving forward while development projects are being carried out”, he added.
Nawaz Sharif slammed the past governments by saying that they did nothing for the country which is why we are facing numerous problems. He told that now the economy is rising day by day.
While pointing out the situation of transportation, he said that the structure of motorway is spreading while Pakistan Railways is also improving. He expressed faith in media but criticised some media networks that are trying to portray a negative image according to him.
The premier announced a package worth PKR 180 for manufacture exporters. He promised to end illiteracy and unawareness in the country.Mean while Secretary Communications Division and Chairman National Highway Authority (NHA) Shahid Ashraf Tarar called on Prime Minister Muhammad Nawaz Sharif at PM House Islamabad today (Tuesday) and briefed the PM regarding progress of ongoing road network projects in the country.
Prime Minister stated that road networks are essential to the overall socio-economic development of the country and provide access to far flung areas of the country thereby creating huge economic potential for trade and commerce.
He directed for immediate construction of Islamabad Metro Bus link from Peshawar Mor to New Islamabad Airport. PM was informed that the project would cost around Rs. 18 Billion and would comprise of 14 bus stops along the route. The new Metro Bus service would be inaugurated by the Prime Minister on 14th August, 2017 along with the inauguration of New Islamabad Airport.
Prime Minister stated that Airport Link Metro Bus route will ease the traffic load towards the New Airport and save precious time for the commuters with ease of travel and comfort. PM directed that the Metro Bus Service to the New Islamabad Airport should be state-of-the-art service and no compromise on the quality of work and service be made.
The meeting was also attended by Secretary to PM and other officials.
