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EUROPE IMPRESSED WITH DEVELOPMENT IN BALOCHISTAN: KARACHI: Europe gives importance to Gwadar Port and impressed with the mega projects being developed in Balochistan. This was stated by Jonathan Webber, head of International Trade Birmingham Chamber of Commerce and Industry, while talking at Balochistan Economic Forum, on Tuesday, said a statement issued here. He said it was important to teach the small and medium enterprises how to deal with the foreign markets so that proper trade missions could be sent and exchange of business could take place. He said another mission of the chamber would visit the province in November 2007 and assured chamber’s cooperation in promotion of business and trade. President Balochistan Economic Forum, Sardar Shoukat Popalzai said UK could help in transfer of technology, direct investment, joint ventures in energy, fisheries, fruit processing, agro food, livestock and mineral development and tourism. He said, “vast opportunities are available in the province for multi national companies and foreign investors for doing business as we have cheap labour and unlimited natural resources.GDA ASK PEOPLE TO VERIFY PLOTS BEFORE PURCHASE: ISLAMABAD: Director-General Gwadar Development Authority Ahmed Bukhsh Lahri has said the status of private housing schemes of Gwadar must be verified by interested parties before they purchase plots in the area. Talking to a TV channel, Lahri said people who wanted to purchase plots in any private housing scheme in Gwadar can confirm the status of the society from the DG office of the authority. There is a verification system in the GDA office and people can contact the office in this regard. The director-general said that housing schemes having NOC by the GDA could also be confirmed from the website of the authority. A cell is working in town planning section of the authority to facilitate people in this regard, he added. To a question, he said 18 private housing schemes that have been highlighted through media were not in their record and they had not obtained NOC from the authority. He said warning has also been issued by the National Accountability Bureau regarding these fake private housing schemes of Gwadar so that people could be informed. To another question about protecting people from fake housing schemes, he said precautionary measures have already been taken in this connection and people are advised that, if possible, they should visit the area before purchasing any plot. The map of the housing society signed by town planning section of the GDA should also be examined, he added. A certificate against each plot is issued by the authority on 75 per cent out of the total plots available in any housing society. Certificates are issued in a bid to curb fake activities. Lahri said, so far, about 65 housing schemes have been issued NOCs, adding that action is also being taken against those trying to deceive people in this regard.
Pakistan to create new business avenues: Chairman Senate Mohammedmian Soomro said on Tuesday that the opening of Gwadar port and the proposed construction of the Expressway to Beijing would open new avenues for world businessmen to market their products to China and Central Asian States. Talking to Flex Rodel, Director, Head of Sales, Africa and Middle East, Swiss International Airlines, who called on him at his residence, Soomro also said that it was time for airlines to grab the opportunity and introduce flights on these routes. Soomro disclosed that more flights to China had already been agreed upon and the construction of the Expressway to Beijing would help in greater transportation of goods to China. He said that there was a golden opportunity for the world business tycoons to make plans, well in advance for the transportation of their goods to the huge markets of China and the Central Asian States. Soomro informed Rodel that the New Islamabad Airport to be built would have modern facilities and it would be ready within the next three years as land has already been acquired. Pakistani President Pervez Musharraf is on official visits to Bosnia, Poland, Spain, and Turkey.
Gwadar port operators get import duty relief: ISLAMABAD The Central Board of Revenue (CBR) has given exemption of customs duty on the import of machinery, equipment and bunker oil to the operators for rapid development of Gwadar port. The board on Friday issued a fresh notification granting customs duty concessions to Gwadar Port operators ie the Port of Singapore Authority (PSA).However, the three-page SRO has laid down specific conditions for availing customs duty exemption for this mega project. Economic Coordination Committee (ECC) of the Cabinet had directed the CBR to give duties and taxes exemption to the port operators. Some of the major tax incentives include complete exemption from corporate income tax, duty exemption on import of material and equipment for construction and operations of Gwadar Power and Development of Free Economic Zone for 40 years and duty exemption for shipping, bunker oil for Gwadar port for 40 years and port operators would also be exempted from all local and provincial taxes for 20 years. Gwadar Policy Board, chaired by the Prime Minister, has already approved concession agreement for 50 years. The operator would initially make an investment of $550 million over the next ten years. The CBR Customs Wing has not placed this SRO.327 (I) 2007 on the official website for unknown reason. Similarly, the CBR is also hiding a Customs General Order of 2007 on new transhipment rules, which is a clear violation of Tax Administration Reforms Plan (TARP). The CGO was issued a few weeks ago and it was not a secret budget document. (4/23/2007 07:20:00 | BUSINESS RECORDER REPORT )