The Federal Government has reduced the period of sales tax exemption for imported Saudi Mission vehicles after receiving $2 billion from Saudi Arabia.
Prior to this, there was a provision for tax exemption on the sale of a vehicle after three years. But now, the imported Saudi Mission vehicles will be exempt from tax after only two years.
The Saudi ambassador requested a reduction in the tax exemption period. The tax will be paid by the Saudi Embassy in Islamabad and the Saudi Consulate General in Pakistan.
Citing sources, the report states that the federal government has also decided to enable Saudi airlines Riyadh Air and Flyadeal to operate flights in Pakistan.
The approval given to Riyadh Air and Flyadeal for the Pak-Saudi route was reportedly obtained through the distribution of three distinct summaries from the Federal Cabinet.
