ISLAMABAD: Finance Minister Ishaq Dar on Monday announced 5 to 10 percent regulatory duty on 61 imported non-essential luxury items to meet revenue shortfall, while said prices of petrol and diesel would remain the same.
“Five percent regulatory duty increase will be made on 289 imported items,” he said while addressing a news conference in Islamabad.
The finance minister said one percent additional custom duty would be imposed on the imported items. He said that non-dutiable imports would remain exempted from the duties.
Dar said there would be no custom duty on 25 imported items including raw material, fertilizer and heavy machinery.
He also announced increase in tax on the import of old and used vehicle over 1000 CC. The finance minister said that increase in duties had been made to meet shortfall of revenue.
Under the revised duties, the price of 1-ton air-conditioner will rise by 4000 rupees. The price of 12-cubic feet refrigerator will increase by Rs. 3000. 32-inch TV prices will rise by Rs. 4000 while 40-inch imported TV will now cost 4000 rupees more. 10 percent duty will be imposed on the import of cars above 1000 CC cars. Cost of importing 1000 cigarettes of high quality will increase by Rs 125 while medium-quality 1000 cigarettes will now cost Rs 100 more upon importing. However the new revised duties will not be implemented on sugar and fertilizer.
