ISLAMABAD: The Federal Board of Revenue (FBR) has finalised the draft to response the Chinese government for its reservations over the increase in customs duty on import of Chinese goods.
According to the details, China had showed concerns when rate of customs duty was raised on import of goods from China and declared this step anti-free trade between two countries those have close relation at all levels.
Sources said that FBR has taken stance that Pakistan has imposed new rate of taxes on a temporary basis to cover the revenue crises, as it is required funds to assist the military operation, Zarb-e-Azb. It is also stated in the letter that Pakistan products are also facing problems as compare to imported goods.
The sources added that FBR has also said that government will review the issues and it is possible that increase in customs duty might be withdrawn in fiscal year 2016-17.
The letters will be sent to Chinese authorities soon, it is learnt here.
