ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved mobile device manufacturing and electric vehicles policies, announcing tax incentives for locally-manufactured phones and encouraging use of hybrid cars.
The ECC took the decisions during a meeting presided over by Minister for Finance and Revenue Hafeez Sheikh.
After due deliberation, the forum approved removal of withholding tax of 4 percent on manufacturing to retailers of locally-manufactured phones to incentivise the sector. Moreover, removal of sales tax on locally manufactured phones was also approved in principle and modalities would be worked out in consultation with the finance division.
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