The Senate Finance Committee has unanimously approved tax concessions proposed for Gwadar Port and Gwadar Free Zone in Finance Bill 2020-21. These concessions would be very useful in operating Gwadar Port and Gwadar Free Zone. Its people would also benefit in terms of employment and development of the area. Earlier, the maritime affairs secretary admitted that the original Gwadar Port concession agreement offered only 20-year – not 40-year – tax holiday to port operators and there was no provision for extending the tax concession to sub-contractors.
24/6/2020