Three-year tax holiday for B’stan industires lauded

June 22, 2015 Off By Web Desk

KARACHI: President, Lasbela Chamber of Commerce and Industry (LCCI) Yakoob H Karim has appreciated Federal Finance Minister Ishaq Dar for declaring three-year tax holiday for the industries to be setup in Balochistan on pattern of Khyber Pakhtun Khawa (KPK).

He announced the exemption from taxes including the turnover tax. However, Karim said that such type of exemption should be allowed at least for five years in Khyber Pakhtun Khawa (KPK) and Balochistan equally as only for three years’ exemption may not attract many investors to set up their industrial units in Balohistan.

Karim welcomed the announcement and hoped that the investors would take benefit from this incentive for which the Lasbela Chamber had requested the government since long.

Yakoob stressed upon the construction of Hub Bypass whose proposal had already been approved and PC-I was awaiting implementation.

He also proposed that the tax exemption limit be extended to five years as has been allowed for KPK. He is of the opinion that tax exemption incentive along with the construction of Hub Bypass will certainly bring a positive change in the economy of Balochistan with the enhancement of living standards of its people and minimising the terrorist activities in the troubled province.