LAHORE: Federal Board of Revenue (FBR) has pledged to consider the concerns of automotive parts and accessories manufacturers over the regulatory duty.
Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Senior Vice Chairman Mumshad Ali called on FBR Chief Tariq Bajwa and expressed concern over the imposition of 15 per cent regulatory duty on imports of auto parts, calling it unjustified.
“In case of hardening steels, the 15 per cent RD is in addition to 5 per cent import duty and 15 percent protection duty. These items are imported by auto parts manufacturers under SRO 655(I)/2006, and not manufactured in Pakistan. In case of alloy steels produced in the country, this duty is on top of existing slabs bringing the total impact on price to 30 per cent,” he said.
Former Paapam chairman Munir Bana added that as the PCT codes of raw materials manufactured by Pakistan Steel Mills (PSM) are common for auto grade material.
