PM directs abolishing of taxes on raw materials for export industry

Talking to American Business Council's delegation, premier orders formation of task forces in various sectors

ISLAMABAD:

Prime Minister Shehbaz Sharif on Wednesday directed the authorities concerned to abolish all taxes on raw materials for the export industry, as part of his government’s vision to develop an export-oriented economy.

The prime minister, in a meeting with a delegation of the American Business Council in Islamabad, also directed formation of a task force in multiple sectors to attract investment, said a statement released today.

Separate task forces would be formed in the fields of tourism, pharmaceuticals, information technology, e-commerce, large-scale manufacturing, and agriculture.

Talking to the delegation, PM Shehbaz said that the government was making all-out efforts to ensure production of export quality agricultural products.

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It is for the first time, he added, that the government is calling for the consistency of policies as the subjects of the national economy and public welfare were above politics.

The delegation, comprising representatives from pharmaceuticals, food processing, IT, e-commerce, retail, textile, sports, and logistics sectors, said the government’s policies had helped revive investors’ trust, terming the pre-budget consultation with the stakeholders a welcoming step.

Speaking on the occasion, the prime minister directed the secretary of commerce as well as the secretary of the board of Investment to ensure immediate resolution of the issues faced by the investors and sought a compliance report within a week.

Federal ministers Syed Naveed Qamar, Makhdoom Murtaza Mahmood, Marriyum Aurangzeb and senior government officers attended the meeting.