CPEC project in PoK hits roadblock over tax issue
The China financed China Pakistan Economic Corridor (CPEC) has hit a major roadblock over an energy project in Pakistan occupied Kashmir (PoK).
A Chinese company could halt the construction of a mega hydro-power project under CPEC in PoK over local tax, ET has learnt. The Chinese company has asked Pakistan to immediately address the issue related to the adoption of a 1% fixed tax by the PoK on the offshore procurement contract of the 1,124-megawatt Kohala Hydropower Project.
“If the issue is not resolved, the Chinese may drop this project from the CPEC’s list of projects,” leading Pakistan English Daily ‘Dawn’ reported last week quoting a local Pakistani official.
