September 26, 2020

Government Decides To Waive Off All Taxes On FDIs In Tourism Sector

The government of Pakistan has decided to wave off all taxes on foreign investment in the tourism sector of Pakistan. The decision has been take to encourage foreign direct investment in the country and build up the tourism sector. Last week, Gallup Pakistan had indicated a 300% rise in visits on the cultural sites of the country and said that the tourism sector could prove to be a real game-changer for the country.

Chairman Board of Investment (BOI), Zubair Gilani said that the government was planning to develop tourist zones with the foreign investments in Northern Areas of the country. He added that providing tourists with international standard facilities, security and enjoyable environment is one of the top priorities of the government as the government has decided to develop this sector on priority basis.

He added that public-private partnership is necessary for the development of any sector and an increase in tourism would result in the economic prosperity of the country. He also said that the government was planning to privatize a few tourism-related entities in order to enhance competitiveness in this sector.

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