Govt withdraws 18pc sales tax on shipping industry

Due to hectic efforts by Federal Minister for Maritime Affairs Junaid Anwar Chaudhary, the federal government decided to withdraw 18 percent sales tax on the shipping industry, reported 24NewsHD TV channel on Saturday.

Federal Minister for Shipping Junaid Anwar Chaudhary said that the maritime and logistics sectors will be strengthened after the withdrawal of sales tax and will decrease the government’s expenditure.

Junaid Anwar Chaudhry said that sea trade and cargo services will be streamlined, and the quality of the local shipping industries will be improved.

The federal minister expressed the hope that after the withdrawal of sales tax, investment opportunities in the shipping sector will be generated, and the move will cut the import and export expenditure.

He said that the withdrawal of sales tax is a major step for stability in the maritime sector. The local shipping industry will be expanded and will generate employment opportunities.

He congratulated the businessmen for providing historical tax relief to the shipping sector.

Reporter: Hashir Warraich