QUETTA(National Times)- The Chairman of the MCC Huaye Duddar Mining Project, Zhang Liangeng (Hopang), has said that excessive taxes imposed by federal and provincial governments and bureaucratic hurdles are discouraging foreign investment and undermining mining projects in Balochistan, urging the two governments to revisit their taxation policies.

Speaking to journalists during the Duddar visit, he demanded the two governments rationalise their taxation policies and remove bureaucratic obstacles to pave the way for foreign investors to work smoothly and bring more investment to Balochistan.

He said his company continues to face significant production challenges because of unnecessary taxes and procedural hurdles imposed by both the federal and provincial governments.

He said that although the federal government had granted the company Export Processing Zone status to help exports and reduce the tax burden, the company is still subject to a federal tax burden of up to 42 per cent, defeating the purpose of the incentive scheme.