ISLAMABAD – The Economic Coordination Committee (ECC) of the Cabinet Friday approved tax exemptions worth Rs20 billion to Punjab government’s Lahore Orange Line Metro Train Project.
The decision came after the provincial government sought a reduction in withholding tax payments and complete exemptions from sales tax and customs duty.
The summary to this effect was sent to ECC by the Planning, Development and Reform Division.
According to a statement by the ministry of finance, Finance Minister Ishaq Dar chaired the ECC meeting at the Prime Minister’s Office.
The ECC also decided that a similar dispensation would also be extended to the other rail-based mass transit projects in Karachi, Peshawar and Quetta at the appropriate time.
The ECC was informed that the Lahore Orange Line Metro Train Project has been made a part of the China-Pakistan Economic Corridor (CPEC) along with rail-based mass transit projects in other provincial capitals at the recently concluded 6th Joint Cooperation Committee (JCC) meeting held in Beijing, China.