Pakistan

ISLAMABAD – The Economic Coordination Committee (ECC) of the cabinet on Tuesday approved tax exemptions for two projects under the China Pakistan Economic Corridor (CPEC).

Chaired by Finance Minister Ishaq Dar, the ECC meeting considered and approved the proposal submitted by the Ministry of Communications for an exemption from customs duties, levies and other relevant taxes for the import of equipment and construction material being used in the construction of two early harvest projects under CPEC: the Karakorum Highway (KKH) phase II (Thakot to Havellian section) and the Karachi-Lahore Motorway (Sukkar to Multan section).

Pakistan had already awarded the contracts of these two projects to Chinese firms.

Sources informed Daily Pakistan that the Chinese firms had demanded tax exemptions for projects under CPEC.