ECC approves tax exemption for Orange Line Metro Train Proj

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet Friday approved exemptions from withholding tax beyond 6 percent of E&M contract price and from tax duties on import of equipment to be installed for the Lahore Orange Line Metro Train Project.The summary to this effect was sent to ECC by the Planning Development and Reform Division.The meeting of the ECC was chaired by the Federal Minister for Finance Senator Mohammad Ishaq Dar here.The ECC also decided that a similar dispensation would also be extended to the other rail based mass transit projects in Karachi, Peshawar and Quetta at the appropriate time.The ECC was informed that the Lahore Orange Line Metro Train Project has been made a part of the China Pakistan Economic Corridor (CPEC) along with rail based mass transit projects in other provincial capitals at the recently concluded 6th Joint Cooperation Committee (JCC) meeting held in Beijing, China.