CoRe for including green financing in budget to tackle plastic pollution.

ISLAMABAD -- CoRe (Collect and Recycle) the first multi-stakeholder packaging alliance in Pakistan on Tuesday stressed to include green financing, a five-year tax holiday for recycling projects and incentives for the stakeholders in the forthcoming budget in order to combat plastic pollution.

According to the press release, CEO of CoRe Sheikh Waqar Ahmad said, 'The first step to address the issue of packaging waste and ensure a waste-free future is a public investment in the formal collection and recycling infrastructure. The government has an important role in providing appropriate policy framework and enabling environment to promote sustainable and innovative practices to fuel new investment in the sector.'

It noted some recommendations including the availability of Green Financing by State Bank to promote waste collection and recycling, a five-year tax holiday for recycling projects for multiple cities of Pakistan, exemption of sales tax, custom duty and zero tariff regime for import of equipment for recycling projects, incentivization of the plastic to fuel industry/infrastructure and abolishing duty for reverse...