To promote Agriculture Industry, PBIT and Agriculture University Faisalabad have joined hands to setup a Special Economic Zone exclusively for agriculture business units.
The Agri SEZ will be developed in an area of 200 Acres where local and international Agri companies will be able to setup their manufacturing units. Under the SEZ ACT, these units will be able to get one time exemption from all custom duties and taxes on plant and machinery imports. Also, 10 years exemption from all taxes on income for enterprises commencing operations by June 2020.
The setup of Agri SEZ with special benefits will attract Foreign Direct Investment in the Agriculture Sector of Punjab.