KARACHI: Federal Board of Revenue (FBR) has decided to increase 10 percent regulatory duty on imports of steel steel billets and rods.
Sources told Customs Today that after enhancement in regulatory duty, prices of steel steel billets and rods will automatically increase. It is necessary to mention here that in January 2015, the FBR announced 15 percent increase on imports of steel steel billets and rods.
Sources said that melters also suggested the FBR to increase regulatory duty on import of steel billets and rods. The FBR is seriously considering this proposal and decided to raise the regulatory duty in near future. An official announcement in this regard is expected soon.
