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Saturday, April 27, 2024  
18 Shawwal 1445  

New law makes NLC a financially independent corporation

The corporation will be given tax breaks if it helps with natural disasters
File photo.
File photo.

The Senate of Pakistan passed a bill establishing the National Logistics Corporation on Friday.

Law Minister Azam Nazeer Tarar presented the bill in the upper house and said that the NLC had been working as a ‘cell’ since its establishment through presidential order under General Zia ul Haq.

However, he added that the NLC was now being turned into a corporation which would be financially independent but work under the federal government.

The bill says that the corporation will be headquartered in Rawalpindi but will be able to open offices across the country. It will be able to undertake both private and public sector projects.

It also says that the NLC could be called upon to aid rescue efforts in case of a Natural disaster and would be given a tax break. The NLC will also support the army in defence and security related matters. The NLC will also be able to acquire military lands in aid of the army.

The corporation will be headed by a serving major general of the Pakistan Army who will be appointed by the prime minsiter on the army chief’s advice.

A National Logistics Board will also be created with the deputy chairman of the planning commission as its head.

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