Karachi (Lord Media): Federal Minister for Board of Investment Qaiser Ahmed Sheikh emphasized the need to concentrate on Karachi to enhance Pakistan’s exports. Speaking at a meeting of the Korangi Association of Trade and Industry (KATI), he revealed that the Prime Minister has abolished the super tax on exporters in the budget, though issues like sales tax refunds and high energy costs persist.
Qaiser Ahmed Sheikh highlighted that the Special Investment Facilitation Council (SIFC) is performing well in terms of investment. He announced that, with the cooperation of the Sindh government, a special economic zone is being developed on 6,000 acres of the Steel Mills land. He added that this zone will have zero duty for ten years, although the IMF initially did not allow zero rating for the special economic zone, but the government has convinced the IMF.
KATI President Ikram Rajput noted during the event that the current environment has made it difficult for industrialists to invest, with the energy crisis being a major issue for industries. He pointed out that numerous industries have shut down, and establishing new ones has become extremely challenging.
