KARACHI: The government has granted 3-5% duty concessions on import of machinery and equipment and other project related items for setting hotels located in area of 30km around the zero-point in Gwadar.
Further zero percent duty has been allowed on import of machinery, equipment and other project related items including capital goods, for setting up of power generation plants, water treatment plants and other infrastructure related projects located in an area of 30 km around the zero point in Gwadar.
The concessions have been allowed through Fifth Schedule of Customs Act, 1969 issued by the Federal Board of Revenue (FBR). However these concessions have been allowed on conditions:
- Ministry of Industries, Production & Special Initiatives, shall certify in the prescribed manner and format as per Annex-B that the imported goods are bona fide project requirement. The authorized officer of the Ministry shall furnish all relevant information online to Pakistan Customs Computerized System against a specific user ID and password obtained under section 155D of the Customs Act, 1969.
- The goods shall not be sold or otherwise disposed of without prior approval of the FBR and payment of customs duties and taxes leviable at the time of import.
