ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday abolished regulatory duty on import of wheat in order to bring down domestic price of the commodity.
The FBR issued SRO 633(I)/2020 in order to amend SRO 6809I)/2019 dated June 28, 2019.
Through the SRO the FBR reduced the regulatory duty to zero from 60 percent.
FBR sources said that the decision to abolish the regulatory duty was take to encourage import of the commodity in order to ensure buffer stock at home and maintain retail price at lower side.
