FBR to appoint focal person on SEZs

FBR has decided to appoint a focal officer to resolve issues related to tax incentives announced for investment in special economic zones (SEZs). Adviser to PM on Commerce, Razak Dawood, in a meeting with a delegation of Bin Qasim Industrial Park and Korangi Creek Industrial Park, informed about the incentives offered in SEZs, including onetime exemption from customs duties and taxes on import of plant and machinery into SEZs for installation in the zones. He said that the govt. has also given tax holidays for 10 years to all enterprises which will commence commercial production by 30th Jun’20 in SEZs. He urged investors to invest in SEZs in priority areas, which include textile, food processing, information technology and equipment, logistics and automobiles in order to get high returns on their investment.