Govt decides to abolish taxes on raw materials for export industries

Prime Minister Shehbaz Sharif on Wednesday directed authorities to abolish all taxes on raw materials of the export industry and form task forces to attract investment in multiple sectors, APP reported.

In a meeting with a delegation of the American Business Council, the premier announced that task forces would be formed in the fields of tourism, pharmaceuticals, information technology, e-commerce, large-scale manufacturing, and agriculture.

He told the delegation that the government was making efforts to ensure the production of export quality agricultural products.

The delegation comprised representatives from pharmaceuticals, food processing, IT, e-commerce, retail, textile, sports, and logistics sectors.

During the meeting, the premier said that it was for the first time that the government was calling for consistency of policies as the "subjects of the national economy and public welfare were above politics."

The prime minister further directed the secretary of commerce as well as the secretary of the Board of Investment to ensure immediate resolution of the issues faced by the investors and sought a compliance report within a week.

The meeting was also attended by federal ministers Syed Naveed Qamar, Makhdoom Murtaza Mahmood, and information minister Marriyum Aurangzeb.