ISLAMABAD: The Federal Board of Revenue (FBR) has increased regulatory duty on the import of wheat from 40 to 60 percent with effect from September 9, 2016.
The FBR, exercising the of powers conferred by sub-section (3) of section 18 of the Customs Act, 1969 (IV of 1969), amended SRO.254(I)/2015 which deals with the imposition of the regulatory duty on the import of wheat, wheat flour, Maida and Semolina. The notification has been issued in compliance with the decision by Economic Coordination Committee (ECC) of the Cabinet taken on August 29, 2016.
The decision has been taken in order to protect the local farmers from the impact of falling international wheat prices. The increase in regulatory duty was proposed by the ministry of national food security and research.
