Tax will be withdrawn on construction of hydropower projects being developed by Chinese companies under CPEC.
The government is expected to withdraw general sales tax (GST) on construction of hydropower projects being developed by Chinese companies under the China-Pakistan Economic Corridor (CPEC) on the pattern of tax exemptions given to mass transits like Lahore Orange Line Metro Train last week.
Informed sources said that at least three major hydropower projects with cumulative generation capacity of over 2,700 megawatts among the priority list of CPEC would qualify for the GST waiver worth over 50 billion rupees ($473 million) to facilitate their implementation, which is currently at very early stage. The move would improve cash flows of major investors like China Gazhouba Group and China Three Gorges Corporation, they said.
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