PM Shehbaz Sharif removes tax on raw materials for export industry

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday directed the authorities concerned to abolish all taxes on the raw materials of the export industry, ARY News reported.

The prime minister, in a meeting with a delegation of the American Business Council, also directed the formation of task forces to attract investment in multiple sectors.

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

The prime minister announces measures as part of his government’s vision to develop an export-oriented economy.

He told the delegation that the government was making efforts to ensure the production of export quality agricultural products.

The delegation comprised representatives from pharmaceuticals, food processing, IT, e-commerce, retail, textile, sports, and logistics sectors.

The participants said the government’s policies had helped revive the investors’ trust and the pre-budget consultation with the stakeholders was a welcoming step.

PM Shehbaz 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.

The meeting was attended by federal ministers Syed Naveed Qamar, Makhdoom Murtaza Mahmood, Marriyum Aurangzeb and senior officers.