reduction in import duties

The measures include tax cuts for foreign companies active in India, sharp reductions in import duties and a lowering of bank interest rates.

The measures include a 12 percent currency devaluation, an agreement with business executives to limit price increases to a total of 4.5 percent through September, voluntary retirement for 30,000 public employees, a halt in work on a nuclear power plant and a major highway, and reductions in import duties and the value-added tax.

Realizing the potential importance of the ship-breaking industry to the national economy, the Government of Pakistan announced in 1978 a number of measures including the declaration of Gadani as a port, a reduction in import duties on ships designated for breaking-up, and a government task force to address infrastructure and logistics issues.