NBR decides to lowers duty on rental power plant equipment

The National Board of Revenue(NBR) on December 28 has decided to cut customs duties and taxes on import of machinery for rental power plants to encourage private entrepreneurs and increase generation of electricity.
NBR sources said the rate might be re-fixed at 6.5 percent at 6.5 percent which includes 4.0 percent as income tax and 2.5 percent customs duty. Entrepreneurs are now paying a total of 30 percent as value added tax(VAT), customs duty(CD), Supplementary Duty(SD) and advance Income Tax (AIT) on import of rental power plant equipment.
NBR took the decision as the government has approved setting up of four rental power plants with a total generation capacity of 160 Megawatt(MW) for resolving the acute electricity supply shortage on an urgent basis. The power division expects to supply 660 MW power by July 2008 from the rental power plants.
- 29 December, 2007