KARACHI: The federal government may impose one per cent customs duty on imports of various raw materials in the upcoming budget for fiscal year 2015-16.
The sources said that the import duty would be imposed on zero-rated raw materials, which will generate huge revenue for the government as a large number of industrial materials are being imported at zero duty.
The zero duty was in line with the national policy of import substitution to promote industrialisation. Under immense pressure from the international lending agencies to generate revenue the government seems to be moving away from the national long-term policy objectives.
