MoC makes admission: tariff lines representing industrial inputs also subjected to RD

Ministry of Commerce (MoC) has acknowledged that some tariff lines representing industrial inputs are subjected to Regulatory Duty (RD), with the objective of curtailing import bill and thereby reducing pressure on Balance of Payments (BoP). In this view, SBP’s Monetary and Fiscal Policies Coordination Board decided to establish an inter-ministerial committee on tariff rationalization by including representatives from Finance and Commerce Divisions, SBP and PIDE. The Commerce Division has suggested that customs duty may be reduced on raw materials and intermediate goods that are imported under various schemes including rebate, DTRE, Export Oriented Units (EOU) and Manufacturing Bond (MB) – except those that are locally manufactured.