Quetta: The chairman of the MCC Huaye Duddar Mining Project has said that high taxes and bureaucratic hurdles are discouraging foreign investment and affecting mining operations in Balochistan.
Speaking to journalists during a visit to the Duddar mining project, Chairman Zhang Liangeng, also known as Hopang, urged the federal and Balochistan governments to review their taxation policies and remove procedural obstacles to facilitate smoother operations for foreign investors.
He said the company continues to face production challenges because of taxes and administrative requirements imposed by both levels of government. According to Zhang, the current policy environment is undermining the potential of mining projects and reducing the attractiveness of Balochistan for foreign investment.
Zhang noted that although the federal government had granted the company Export Processing Zone status to support exports and reduce its tax burden, the project was still subject to a federal tax burden of up to 42%.
He said this level of taxation was inconsistent with the purpose of the incentive scheme and called for a rationalisation of tax policies to encourage greater investment in the province’s mining sector.
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