Staff Reporter
Karachi
Federal Minister for Maritme Affairs Ali Zaidi has said that the new shipping policy has been introduced after in-depth consultations and around five to six groups have shown interest in running ships under companies registered in the SECP.
He was talking to the host in webinar arranged under Corporate Pakistan Group’s initiative for Way Forward series. The minister said that last shipping policy was announced in 2001 but it could not seek attract the targeted investment and fizzled out, He was enthusiastic that the incentive provided by the new shipping policy will surely do the job for Pakistan to gain much investment from entrepreneurs.
Informing about the salient features of the policy, he narrated that there is exemption from Customs Duty, income tax and sales tax till 2030 for those who register their company in Pakistan and also will have first berthing right at ports. There is 25 percent reduction in GRT too for the investors. The Pakistan flag carrier will save millions in demurrage as he will be given preference in berthing their ship.
Zaidi said in return Pakistan would save billions in freight bill and also in foreign exchange and all billing will be done in rupees.
