ISLAMABAD: The Finance Ministry has levied regulatory duty on the import of sugar and issued a notification to the Pakistan Customs in this regard.
According to details, the ministry issued SRO-1043 (I)/2014 through a notification to put 20% regulatory duty on the import of sugar falling under the Pakistan Customs Tariff headings 1701.1310, 1701.1390 and 1701.9910 of the First Schedule of the Customs Act, 1969 (IV of 1969).
The Finance Ministry has issued the notification in exercise of the powers conferred by Sub-Section 3 of Section 18 of the Customs Act 1969.
According to the Sub-Section 3 of the Section 18 in Customs Act 1969 (IV of 1969), “The Federal Government may, by notification in the official gazette, levy, subject to such conditions, limitations or restrictions as it may deem fit to impose, a regulatory duty on all or any of the goods imported or exported, as specified in the First Schedule at a rate not exceeding one hundred percent of the value of such goods as determined under Section 251b [or, as the case may be, section 25A].”
