KARACHI: The Federal Board of Revenue (FBR) has decided to exempt the import of textile, garments and machinery from customs duty (CD), it is learnt here.
Sources informed Customs Today that the FBR decided this after consulting the federal government. The step has been take to make the import of textile, garments and machinery “duty-free” to boost import of those commodities, sources said.
The sources revealed that a notification in this regard would be issued in upcoming days which would be circulated in the field formations.
The sources further informed this scribe that the FBR authorities concerned have also decided to decrease the custom duty (CD) on fish farming and import of fertilizers’ machines. The customs duty (CD) on import of fertilizers’ machines has been decreased from 5 pe cent to 2 percent and the FBR authorities have taken the said decision after the consent of federal government.
The sources further informed that the customs duty on more than 2000 machinery linked with the fertilizer industry has been decreased from 5 percent to 2 percent.
The sources further said that the FBR authorities concerned are mulling over to decrease the customs duty (CD) on import of LED, adding that the suggestion in this regard is underway.
