Cabinet approves first mobile phone manufacturing policy
Prime Minister Imran Khan chairs a meeting of the federal cabinet in Islamabad on Tuesday.
The government will give incentives to people who will invest in the business of mobile phone manufacturing and assembly. Under the policy, fixed income tax on manufacturing and assembly of a mobile phone costing up to $350 will be abolished. Fixed income tax on manufacturing and assembly of a mobile phone costing $351 to $500 will increase by Rs2,000. Fixed sales tax on manufacturing and assembly of mobile phone devices in the country will be abolished. Measures will be taken to resolve the issue of “misdeclaration” of imported mobile phones. Local mobile phone manufacturers will be given 3 percent R and D allowance. There will be 4 percent discount in withholding tax on the sale of a locally manufactured mobile set within Pakistan. The government will differentiate between mobile phone manufacturing and assembly.
The national political, economic and pandemic situation also came under discussion at the meeting. The meeting approved export of locally manufactured personal protective equipment, including sanitisers.
Referring to recent media reports, which showed former prime minister Nawaz Sharif enjoying outing in London after grant of bail by the Pakistani courts for his treatment abroad, Prime Minister Imran Khan said he ruined the country and now he is enjoying his life in London shamelessly.