Duty exemptions for vessel buying hinted at.

KARACHI -- Minister for Maritime Affairs Syed Ali Hyder Zaidi hinted at the removal of sales tax and duty on purchase of new vessels under the proposed shipping policy.

Addressing business and industry leaders at the Korangi Association of Trade and Industry (KATI) on Friday, the minister said measures are being taken in the new shipping policy for the promotion of shipping industry. The proposed policy is awaiting federal cabinet approval.

While referring to high prices of energy and hike in interest rates industry could not expand, he said that Prime Minister Imran Khan had to take some tough decisions for the survival of the country. However, he was optimistic about a turnaround soon.

The minister disclosed that the upcoming shipping policy will allow freight charges to be paid in...