Prime Minister’s Office spokesman clarifies news regarding incentives announced for investors

Islamabad, November 29, 2013 (PPI-OT): A spokesman of the Prime Minister’s Office today clarified news carried by the press today regarding announcement of incentives / amnesty for investors by the Prime Minister, saying that no limit has been fixed for investment in the Green Field Industrial and Expansion Projects.

They also include captive power plants; low cost housing construction; livestock and mining and quarrying in Thar Coal project; mining projects in Balochistan and Khyber Pakhtunkhwa and other expansion projects, provided these projects are set up on or after 1stJanuary, 2014.

The spokesman added that these incentives would not however be available to certain sectors namely arms and ammunition, explosives, fertilizers, sugar, cigarettes, aerated beverages, cement, textile spinning units, flour mills, vegetable, ghee and cooking oil manufacturers as these sectors either already have excess capacity or are anti-social.

Moreover, the spokesman said, these incentives will also not be applicable on Funds arising from crimes committed under Narcotic Substances Act 1997, Anti Terrorist Act 1997 and the Anti money Laundering Act 2010.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

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