KARACHI, Feb 26: Nooriabad Association of Trade and Industry Chairman Fazal Karim Dadabhoy has urged the government to allow 50 per cent reduction in taxes on import of plant machinery for establishing new units or upgrading present one in Nooriabad.

In a statement issued here on Tuesday he also demanded a three-year income tax holiday to attract investors to Nooriabad industrial estate.

Mr Dadabhoy suggested that an investment conference, in collaboration with the Board of Investment and Ministry for Industries, be organised to apprise people about existing investment opportunities in Nooriabad.

He said that Nooriabad industrial estate is ideally located in between two big cities of Karachi and Hyderabad and spread over 3342 acres of land. Internal work on road had been completed and power, telephone and gas has been provided. A labour colony comprising 200 houses with modern facilities had also been established. However, the estate faces shortage of water, he said.

He urged the government for early completion of the ongoing work on water supply scheme from Keenjhar Lake.

The chairman suggested reduction in per acre land prices in Nooriabad industrial estate with a condition that these plots would be cancelled who failed to start construction within prescribed time.--PPI