Pioneer industry status scheme introduced to boost foreign investment

The government has introduced a Pioneer Industry Status scheme with minimum five hundred million rupees upfront investment to boost foreign investment.


Sources at Industries and Production Division said the aim of the scheme’s to improve production capacity of domestic industries and factories in the country.

The sources said the scheme includes establishment of industrial parks and Special Economic Zones which offer a number of incentives to industrialists including exemption of all taxes on income for a period of 10 years.

The other steps are establishment of export processing zones.