Under Gwadar Smart Port City Master Plan, the proposed Special Economic District (SED) is likely to get tax-free status, Gwadar Pro reported on Sunday.
Gwadar Development Authority (GDA) has structured a draft seeking tax-free status for the proposed SED for the period of 30 to 35 years to be constructed under the Gwadar Smart Port City Master Plan. The draft aims to put in place similar benefits and perks to local enterprises as awarded to foreign investors and businessmen in Special Economic Zones (SEZs) being established throughout the country.
Talking to Gwadar Pro, GPA Assistant Director Town Planning Abdul Razzaq said that the draft has been submitted to higher authorities for extensive deliberations hoping that the approval will make sure a level playing field for the local business community to prosper. He said that under Gwadar Smart Port City Master Plan, officially notified in February 2020.—INP