ISLAMABAD: Federal Board of Revenue (FBR) has imposed regulatory duty on import of liquefied petroleum gas (LPG) at the rate of Rs4,669 per metric tons.
The FBR has issued an SRO 1214(I)/2017 to amend the RD related SRO 0135(I)/2017. According to the notification, a new entry has been added in the SRO 0135(I)/2017 for imposition of the regulatory duty (RD) on the import of LPG.
The FBR would generate around Rs 1.5 billion from the imposition of the RD at the rate of Rs 4,669 per MT on the import of LPG during remaining seven months (December to June) of 2017-18. The FBR has worked out the revenue impact on the basis of data available on the import figures of LPG during 2016-17 and 2017-18. The RD would be imposed at the rate of Rs 4,669 per metric ton on the import of LPG falling under Pakistan Customs Tariff (PCT) heading 2711.1910. The estimated revenue impact of this revenue measure during the remaining seven months (December to June) comes to Rs 1.5 billion approximately.
To impose the regulatory duty on LPG was taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet held on November 28, 2017.
Prime Minister Shahid Khaqan Abbasi chaired the said meeting and acceded to a proposal for levying of regulatory duty on import of LPG. The step would help maintaining parity with the locally produced LPG.
