Title front - Sindh Board Of Investment, Government Of Sindh

• Foreign nationals concerned with Thar coal projects and in possession of FBR's "Passbook" areallowed duty-free import of foodstuffs and consumer goods valued up to US $ 1000.00.Concessions/Exemptions• Zero percent customs duties on import of coal-mining equipment and machinery includingvehicles for siteuse.• Exemptions on withholding tax to shareholders on dividend for initial 30 years.• Exemption on withholding tax on procurement of goods and services during project constructionand operation.• Exemption for 30 years on other levies including Special Excise Duty, Federal Excise Duty, WPPF,and WWF.Governance and ProceduresThar Coal & Energy BoardTo provide one-window operation to investors in Thar coalfield, theGovernment of Pakistan has constituted a high-powered Thar Coal & Energy Board consistingof Chief Minister of Sindh as Chairman along with federal and provincial ministers andsecretaries, which represents all stakeholders to manage the development process of Thar coalfield.The Board is fully empowered to grant approvals to Thar coal projects and other related activities.Application Procedure The allocation of blocks in Thar coalfield is conducted within the frameworkof Sindh Mining Concession Rules, 2002. Accordingly, initially international competitive bidding is heldafter which successful candidate gets an Exploration Licence after signing a Memorandum ofUnderstanding (MOU) with Sindh Coal Authority. The Exploration Licence is usually awarded for aperiod of 01 year for conducting bankable feasibility study (BFS) but may be extended on validgrounds. The licence-holder is required to submit quarterly progress reports and adhere to the termsand conditions of the licence, which if not fulfilled may result in cancellation of license. After BFS,the Exploration Licence is converted into Minin Lease for a period of 30 years.ProtectionsSpecial Status Thar coalfield has been declared "special economic zone" with all the termsand conditions pertaining to it and the projects undertaken in Thar coalfield will be considered"projects of national security."Double Taxation No double taxation will be done for project on Thar coalfield. This is in linewith Pakistan's agreement with 52 countries of the world for avoidance of double taxationincluding China.Continuance The favourable policies, incentives, and procedures for investment in Tharcoalfield will continue and will not changed to the detriment of the investors.Sindh - The Land of Endless Opportunities