EPZA shows tremendous performance during year 2009-10

Attention: open in a new window. PDFPrintE-mail
ISLAMABAD. : Export Processing Zones Authority (EPZA) has shown its tremendous performance during the year 2009-10. It has published its first ever Year Book for 2010. It s Exports increased by 14 percent, Tax revenues increased by 14 percent, Investment of surplus funds increased by 11 percent, Foreign Investment increased by 60 percent on account its excellent performance. Federal Minister for Industries and Production Mir Hazar Khan Bijarani has appreciated the performance of EPZA during 2009-10 and congratulated the administration of EPZA for publishing its first ever Year Book-2010, which is very informative and carries healthy guidelines for investors and industrialists. EPZA is contributing to the economy by enhancement of foreign investment, generation of employment and setting up of allied manufacturing industries. It is constantly diversifying and expanding its operations with commitment to achieve its mandate through sustainable policies and support of government. Its mandate is to make all arrangements for planning, development and management of the zones and to provide for matters connected therewith or ancillary thereto. The Export Processing Zones Authority (EPZA) vision is to proactively facilitate the investors and create enabling environment for them to enhance export-led manufacturing, trade and investment so as to achieve exports. target of US $1 billion by 2015.

At present it has six Export Processing Zones like KEPZ Karachi, EPZ Risalpur, Saindak EPZ, EPZ Sialkot, Tuwairqi Steel EPZ Karachi and Duddar EPZ, which are working very efficiently. EPZA provides one window operation with simplified procedures, secured environment, customs bonded area, uninterrupted power supply, gas provided by utility company on priority, continuous water supply by EPZA, environment friendly atmosphere, easy access to seaport and air port, abundance of skilled and educated workforce, developed land available at competitive rates for 30 years lease, relief from double taxation subject to bilateral agreement, Off-shore Banking Units available to facilitate financial transactions and Offices of Clearing and Forwarding agents within the zone to investors.

EPZA also provide power supply through dedicated grid station up to 50 MW, water supply of one million gallons per day, telephone exchange of 4000-lines, emergency medical facilities, dedicated security round the clock, fire station within the zones and fire hydrants in front of every unit to investors. Moreover, it also offer Duty free import of machinery, equipment and materials, freedom from national import regulations, exemption from Exchange Control Regulations of Pakistan, repatriation of capital and profit allowed, no sales tax on input goods including electricity/ gas bills, import of duty free vehicles allowed with certain conditions, supply of goods to Customs Manufacturing Bonds allowed, sub-contracting outside the zone and vice versa allowed and Inter-transfer of finished goods among the units of EPZ allowed and domestic market available to the extent of 20 percent. Exceptions allowed under certain conditions, Presumptive tax collected by EPZA @1% on FOB value of exports as final tax liability, Obsolete / old machinery can be sold in the local market upon payment of applicable taxes and sale of defective goods/ waste permitted in local market up to maximum of 3 percent of total value upon payment of duties / taxes. -PR

Courtesy : Business Recorder


Forex open Market rates & comments Archive

Login Form