ISLAMABAD — The federal government has abolished the 18 percent sales tax on the shipping industry in the 2026-27 budget. This decision, applauded by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, is expected to significantly strengthen the maritime and logistics sectors.
Impacts on the Maritime Sector
Minister Chaudhry emphasized that removing the 18 percent sales tax addresses a longstanding request from industry stakeholders. This tax abolition is anticipated to enhance operations and boost competitiveness in the global market.
Encouraging Economic Growth
The removal of this tax aligns with the government’s strategy to foster economic growth. By reducing the tax burden on key industries, the government aims to attract more investment and drive development within the maritime sector.
