ISLAMABAD: The Federal Board of Revenue (FBR has fully defended different rates of import duty from Afghanistan and Iran as well as import duty on paper.
Chief of Customs Tariff, Iftikhar Ahmad, while speaking in two separate meetings of the Senate Committee on Finance and Revenue as well as Standing Committee on Commerce, defended the FBR on both issues.
In the Finance committee, former chairman Pakistan Association of Printing and Graphics Arts Industry (PAPGAI) SM Minhajuddin briefed the committee that Pakistan had more duty on import of raw paper than on printed paper.
He said that heavy taxes and duty on importing raw paper was affecting the printing industry of Pakistan and companies were printing their books and magazines from abroad. Moreover, heavy duty is also effecting the printing cost and quality of educational and textbooks.
Senators demanded to know what percentage of textbooks were printed from imported paper and questioned whether the prices of textbooks would go down if the duty was lowered.
IMF forecasts slower growth, higher inflation for Pakistan
ISLAMABAD: The International Monetary Fund has projected slower economic growth and higher inflation for Pakistan, highlighting the need for continued...
