Notification issued to impose 20 percent regulatory duty on sugar import

KARACHI: Federal Board of Revenue (FBR) on Wednesday issued notification to impose 20 percent regulatory duty on sugar import.
The notification has been issued in pursuant to the decision taken by the Economic Coordination Committee (ECC) of the cabinet on November 12 to impose 20 percent regulatory duty on import of sugar. The cabinet also allowed the export of surplus 500,000 tons of sugar.
The regulatory duty has been imposed in order to protect the local grower of sugarcane and sugar processors because the prices of sugar in international markets are much lower then the local market.

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