ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has approved the proposal of the Planning, Development and Reform Division at the request of the Punjab government to grant exemptions from withholding tax beyond 6 percent of E&M contract price and from tax/duties on import of equipment to be installed for the Lahore Orange Line Metro Train Project.
According to details, the Federal Minister for Finance Ishaq Dar chaired a meeting of the Economic Coordination Committee of the Cabinet at the Prime Minister’s Office. The ECC was informed that the Lahore Orange Line Metro Train Project has been made a part of the China Pakistan Economic Corridor 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.
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.
