Business community raising questions about benefits of CPEC

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Duty free equipment imports for CPEC deprive local industry of benefit
Arrangement not helping industrial expansion, job creation in Pakistan
The Pakistan Economy Watch (PEW) on Sunday said business community has started raising questions about impact of CPEC on local industry.
Government has allowed import of all the machinery and other equipment without any duty and taxes for the project which has put local industry on disadvantage that is against the national interests, it said.
Dr. Murtaza Mughal said that cost of doing business is very high in Pakistan therefore locally produced goods cannot compete with the goods imported without any duty and taxes leaving local manufacturers high and dry.
In this scenario, he maintained, local heavy and cottage industry is not getting benefit of the 46 billion dollar investment which is impeding industrial expansion, revenue and job creation.

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In: Economy WatchAuthor: AAMIR JAVEDComments (0)