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No taxes on KCR.

Karachi Circular Railway project will get many tax exemptions to make it financially viable. Its foreign and local components will be free of general sales tax, customs duty and some other federal levies as decided by Economic Coordination Committee. Though officers in Islamabad know that the project has been on the agenda of M/o Railways for years, they still have not lost hope of its coming alive again. Its feasibility was done with JICA's help which will largely finance the project. The $2.6 billion project will provide Karachiites a modern rail-based commuter service. JICA would provide it $2.4 billion loan at 0.2% markup payable in 40 years, with 10 years grace period.

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Publication:Pakistan Engineering Review
Date:Aug 31, 2013
Words:116
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