One day after decreasing fuel prices, PM Imran Khan has announced special investment package for Industries.
According to the details revealed under the industrial investment package the government has announced Incentives for investing in small and medium industries, Incentives for restoring, investing in sick units. Overseas Pakistanis to get five-year tax holiday when investing in the country. Tax rate will be decreased by widening the tax base. No questions will be asked for investments in the industrial sector.
Announcing the industrial package at a ceremony the PM said the package will help strengthen the country’s export-oriented industrial and manufacturing base. The previous governments had been against wealth creation and devised policies that were against profit-making, which he termed as a ‘socialist mindset’.
The PM said the industrial policy would divert the money lying in plots and not being productively used in investment in the country’s industries, ending unnecessary checks and creating ease for small and medium enterprises (SMEs) and incentivising investment in sick industries.