The government has granted a tax exemption to the #China Overseas Ports Holding Company (#COPHC) for 23 years to help them establish their industrial units at Gwadar Port.
This was announced by the Federal Minister for Maritime Affairs Ali Haider Zaidi. Accompanied by COPHC’s Chief Executive Officer Zhang Baozhong and Minister for Economic Affairs Hammad Azhar, Mr. Zaidi told a press conference on Tuesday that COPHC will get a tax exemption for installation of machinery and other equipment at the port.
The initiative is a step towards the relocation of the Chinese manufacturing industry to Gwadar and engaging the local labor, he said, adding that the move will boost Pakistan’s economy.
The minister said COPHC will also set up a desalination plant at a cost of Rs. 1.95 billion to provide 5,000 gallons of water per day to the people
