The govt. has withdrawn customs, regulatory and additional customs duties on more than 163 tariff lines to increase the share of man-made fibres (MMF) for better per-unit prices in the international markets. The exemptions will have a total revenue impact of PKR 532.88Mn per annum. ECC has directed FBR to implement it. The govt. has withdrawn cumulative 22.5% duties — customs duty (CD), regulatory duty (RD) and additional customs duty (ACD) on 37 tariff lines; 24% on 14 lines; 20% on 25; 15% on 16 tariff lines; 27% on three lines; 13% on 29; and 5% on 38 tariff lines. Duties have been withdrawn on selected HS codes of textile sector, including fibers, yarns and fabrics of nylon, viscose, acrylic, rayon, silk, wool and vegetable based fibers like hemp etc.
24/9/2020