ISLAMABAD, June 23: The Engineering Development Board has finalised a strategy for setting up modern machine tool assembly facilities in the country.

A spokesman of the board in a press statement issued here on Friday referred to the president’s Engineering Vision that provides impetus for growth of the engineering sector.

To support the growth, the federal budget for 2006-07 allows zero-rated customs duty structure on imports of raw material, sub-components, components and assemblies for manufactures and assemblers of CNC Machine Tools, Die Casting Machines and Plastic Injection Moulding Machines in the country, he added.

He further said that the rapid growth of motorcycles, automobiles and household appliances sectors was stimulating the demand for components because of which the demand for machine tools had started to soar and thus making it the right time to take initiative for venturing in this arena to meet the future demand.

The spokesman said that all progressive investors and manufacturers had been asked to approach the board for any facilitations required.