KARACHI: The Sindh High Court (SHC) on Friday directed the respondents to release the consignments of prime deformed bars and prime quality alloy steel wire rods after the deposit of the differential amount of regulatory duty is paid with the nazir of the court thorough pay-order /bank guarantee.
A division bench of the SHC headed by Justice Munib Akhter was hearing an application filed by Faizan Steel and Asim Wire Nut Bolt Industry over regulatory duty.
Earlier, the petitioners’ counsel stated that Faizan Steel imported three consignments totaling 302.720 metric tons “prime deformed bars” from China on March 19, 2016 and filed goods declarations. Asim Wire Nut Bolt Industry imported a consignment of 1039.030 metric tons of prime quality alloy steel wire rod from China and filed goods declarations on March 20, 2016.
According to the petitioners, secretary revenue division issued a notification SRO 236 (1)/2016 on 21st March 2016 to further amend the SRO enhanced the rate of regulatory duty on the petitioners’ consignments to 30%.
The counsel argued that the respondents are authorities format under the fiscal laws of Pakistan and are bound by the Provisions of the law under which they are formed as well as under the constitution. “The petitioners are seriously aggrieved by the actions of the respondents because they have no power to demand said duty,” the counsel added.
Citing Secretary Revenue Division, Chairman FBR, Model Customs Collectorate – East, as respondents, the petitioners prayed to the SHC to order the release their consignments.
