ANNOUNCED AS TEMPORARYYes
Through the new order, matching support of 50% up to 5 million Pakistani rupees per year per firm (USD 47,750) on import of new plant and machinery for technology upgradation by manufacturing enterprises in leather, pharmaceutical, fisheries and the surgical equipment sectors is provided. The Order favours SME's in these sectors and although non-SME's can apply for the incentive the limit is capped to 2 million rupees (USD 19,100) for the same.
The incentive is also not available to the manufacturing unit that has already availed of any scheme provided by the State Bank of Pakistan. The facilities that have claimed incentive under this Order cannot be transfered or sold off for 5 years from the date of installation. Further, the user has to be the actual importer of the plant/machinery and purchase of machinery from other importers are not eligible for such incentive.
By providing financial support for plant and machinery upgradation, the state act subsidises cost of production in the specified sectors and provides an unfair advantage against similar goods in the domestic and international market.
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