QUETTA: The Balochistan government on Saturday declared Gwadar district as a tax-free zone, urging the Centre to grant the region a similar economic status, ARY News reported.
In a statement, the Balochistan government said that Gwadar will be from services and excise tax, and any tax on property transfers, urging the federal government to grant the region a similar economic status.
Senator Kauda Babar, who belongs to district Gwadar, lauded the provincial cabinet’s decision as a welcome step.
The Senator said the cabinet’s approval of Gwadar as a tax-free zone was the fulfillment of a long-standing demand. He further urged the federal government to provide relief in federal taxes.
Kauda Babar expressed his belief that the status of a tax-free zone is likely to revive the true spirit of the China-Pakistan Economic Corridor (CPEC), stimulating activity at the Gwadar port and attracting further investment.
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He predicted that the establishment of industries in Gwadar would create job opportunities for millions and bring foreign exchange into the country.
Earlier, Balochistan Chief Minister Mir Abdul Quddus Bizenjo approved a summary of the planning and development department giving a special economic district status to Gwadar.
