Pakistan to Cancel Tariffs on Commercial Raw Materials Imports by Exp. Sectors

According to Pakistani The News International of Nov. 22, Federal Board of Revenue of Pakistan (FBR) has decided to exempt tariffs on commercial imports of raw materials by five export sectors: textiles, leather, carpets, medical equipment and sports equipment.

The notice associated is expected to take effect after being signed by the FBR chairman.

Before then, Pakistan exempted import tariffs on raw materials of those sectors imported by manufacturers, but imposed 5% tariff on commercial imports of those raw materials.

The Karachi Chamber of Commerce & Industry (KCCI) set up a special committee to negotiate with the FBR on cancelling such tariffs, obtaining the preliminary exemption aforesaid.

KCCI insiders say that FBR will restore a special revenue order no. 283 (SRO-283) to grant zero-tariff for commercial imports of over 180 raw materials.