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Home » Business News, General Business News

ICCI calls for exemption of industrial machinery from import duties

January 3, 2019

Islamabad, January 03, 2019 (PPI-OT): Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce and Industry (ICCI) lauded the government’s initiative for exempting imports of heavy machinery for oil and gas exploration and development from custom duties and other levies in order to enhance indigenous fuel production.

In a statement here on Thursday, he stressed that the government should extend similar concession to the import of industrial machinery in the next mini-budget to upgrade the industrial sector and bring it at par with developed countries. He said up-gradation of technology and machinery in indigenous industrial sector was the key requirement for rapid economic growth of Pakistan, but imposition of heavy duties and taxes on the import of some industrial machinery was the major constraint in uplifting the local industry.

He stressed that government should allow duty free import of technology and machinery of local industry in the next mini-budget that would help in producing value added products and putting Pakistan on the path of accelerated progress and prosperity.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk
Website: www.icci.com.pk

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