EPZ over 46,000 acres to be set up at Gwadar, says Wattoo

[LahoreEstate]

RECORDER REPORT
ISLAMABAD (May 21 2009): Federal Minster for Industries and Production, Manzoor Wattoo said on Wednesday that Gwadar Port has been declared as tax-free zone for 10 years, aimed at boosting exports besides promoting trade and industrial sectors of the country.

Addressing a press conference here, Wattoo said the government has decided to declare Gwadar Port as tax holiday zone for 10 years and establishing an export industry at the port. "An state-of-the-art export processing zone over 46,000 acres of land would also be established there to promote the export and zero rating of sales tax on construction material will also be exempted from stamp duty," he added.

He said that it will help improve the life standard of the people of Balochistan and would also create job opportunities in the province. He said that the country has achieved a bumper crop of wheat this year due to the prudent polices of the government and surpassed the procurement target of 6.5 million tons and reached 8 million tons.

He said that rice crop would be cultivated over 7.240 million hectares, cotton 7.044 million hectares, sugarcane 2.558 million hectares while maize would be cultivated over 2.440 million hectares this year. About 19,246,000 acres of land would be put under Kharif crop for which about 3 million tons of fertilisers would be required, he said.

About 2.55 million tons of fertilisers are manufactured locally, as there was a gap of 0.45 million tons in demand and supply of the commodity. This gap would be filled by the import of the commodity, out of which 164,000 tons has been imported and tender for the import of 255,000 has been called.

The government would ensure the import of 255,000 tons by the end of current month to ensure smooth supply of the input to growers adding that the ECC has approved the import of 0.2 million tons of fertilisers. The government is providing around Rs 6.50 billion subsidy on imported fertilisers at the rate of Rs 500 per bag of urea and besides, the subsidy of Rs 282 per bag for local manufacturers is being given which mounts to Rs 14 billion.

The minister said that the government was providing Rs 20.88 billion subsidy for Kharif crop to make the country self-sufficient in food grains. A proper strategy has also been devised to root out hoarding and black-marketing of fertilisers, he said, adding that farmers should purchase the commodity according to their needs and avoid storing the commodity for next crop

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