PM to announce package for industrialists, overseas Pakistanis tomorrow

Prime Minister Imran Khan will announce a special relief package for the industrial sector and riche overseas Pakistanis tomorrow as the cabinet has approved the summary.

According to the 24News HD TV channel, PM Imran will announce the relief package for the promotion of the industry during his visit to Lahore on Tuesday.

The channel report said that the said package will be implemented through an ordinance.

The sources said that there was a proposal to provide tax incentives for setting up new industries as well as rehabilitation of ‘sick’ industries in the country.

It is also proposed in the summary approved by the cabinet that the government will give incentives for the transfer of declared assets from abroad to Pakistan to overseas Pakistanis.

There is a proposal to give 5 per cent tax relief on setting up new industries and to exempt investors from questioning their sources of income.

A proposal to adjust the company's tax losses for rehabilitation of ailing industries and to adjust the tax losses of the sick company for the next 3 years are also included in the summary, sources said.