BEIJING, Nov. 19 (China Economic Net) – Pakistan will set up a specific project management unit only for facilitating the Chinese companies’ investment, said Fareena Mazhar, the Secretary, Board of Investment.

Ms Mazhar made the remarks when attending a webinar “China-Pakistan Agricultural Technology Cooperation and Prospects” in response to questions about whether there is any Special Economic Zones or industrial zones with tax incentives for Chinese seed companies.

She said under the first phase of CPEC, a total of nine Special Economic Zones (SEZs) are planned to be set up. For these SEZs, there is no custom duty on the import of one-time machinery. There is a tax holiday for the enterprises working in these economic zones for 10 years.

Pakistan has also set up technology zones in Islamabad. The technology zones will have the same tax exemptions as these for the manufacturing. Mazhar also said, they will set up a specific project management unit only for facilitating the Chinese companies’ investment. If any Chinese company needs support or get any information, they can contact the BOI.

When asked about the tax levied on the seed breeding, production and sales in Pakistan for Chinese seed companies, and whether there is any tax reduction or exemption, Muhammad Azeem Khan, Chairman of Pakistan Agricultural Research Council (PARC) said currently there is no tax. He said the hybrid rice, its seed was imported from China and produced in Pakistan.