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Sunday, July 3, 2022
HomeNationalPM Shehbaz orders taxes on raw materials for export industry be abolished

PM Shehbaz orders taxes on raw materials for export industry be abolished

Prime Minister Shehbaz Sharif has directed that taxes on raw materials used in the export industry be abolished and task forces be formed to bring in investment in multiple sectors.

State media reported that the prime minister met a delegation from the American Business Council, which consisted of representatives from various sectors. These included IT, e-commerce, retail, textile, pharmaceuticals, and food processing.

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In attendance in the meeting were federal ministers Syed Naveed Qamar, Marriyum Aurangzeb and Makhdoom Murtaza Mahmood.

PM Shehbaz directed the task forces formed to bring in investment in multiple sectors. Moreover, task forces will also be created in the fields of agriculture, large-scale manufacturing, e-commerce, pharmaceuticals, IT and tourism.

The premier told the delegation that the government was currently involved in efforts to make sure that agricultural products be made which were of export quality.

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Moreover, the prime minister ordered the secretary of commerce, as well as the secretary of the Board of Investment to make sure that issues faced by investors be resolved and a compliance report be submitted within a week.

State media also reported that the representatives of the business community had said that the government policies had aided them in reviving the trust of investors. They also termed the pre-budget consultation with stakeholders a “welcome step”.

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