Reviewed Industrial Policy 2020 to promote business, commerce activities in KP: Jhagra

PESHAWAR: Minister for Finance, Taimur Salim Jhagra said the government had prepared a new industrial policy for promotion of business and commerce activities in the province.

He was addressing a video link meeting held by KP Board of Investment and Trade to discuss business opportunities in backdrop of coronavirus pandemic.

Jhagra said special desks had been established to promote business, system of dual tax had been revoked and tax reforms introduced for a congenial environment for stakeholders.

He informed that reviewed Industrial Policy 2020 comprise three basic elements including revival of sick and low productivity industrial units, provision of needed infrastructure and encouragement of medium level businesses.

The minister said foundation stone of Rashakai Special Economic Zone would be laid very soon after corona pandemic. Licenses, permits, NOC, registration and taxes would be deregulated in 16 different sectors to promote investment and boost industrial development, he added. - APP

He said that the KP government welcomes investment, adding businessmen and industrialists would be facilitated and provided needed assistance. – APP