ISLAMABAD: The Commerce Ministry has asked the Federal Board of Revenue to slash regulatory duty on 57 tariff lines out of which 47 tariff lines belong to steel products.
These 57 tariff lines are of three different products including sulphonic acid, yarn and steel products.
The government on October 16, 2017 imposed regulatory duty through SRO 1035(I)/2017 on 731 tariff lines. The government imposed up to 30 percent regulatory duty on import of various steel products.
The regulatory duty on yarn and sulphonic acid is 10 percent, which is recommended to be removed.
The ministry on March 22, 2018 issued a list of 515 tariff lines for reducing customs duty and regulatory duty and invited stakeholders comments which would be incorporated in the budget 2018-19.
