KARACHI: The Federal Government has decided to impose regulatory duty on the import of several products in the range of 5.0 percent to 20 percent, while regulatory duty on import of certain goods would be withdrawn.
According to details reaching Customnews.pk, official notification to this effect would be issued in a couple of days.
It has been learnt that regulatory duty of 15 percent has been imposed on the import of tiles, cubes and similar articles (whether or not rectangular) under PCT 69.07 and 69.08.
Import of waste and scrap of compressor under PCT 7204.4940 would also be subject to a regulatory duty of 5.0 percent.
Moreover, importing angles, shapes and sections of iron or non-alloy steel as well as wire of iron or non-alloy steel under PCT 72.16 and 72.17 respectively would also be subject to a 15 percent regulatory duty.
However, regulatory duty at the rate of 17.5 percent has been imposed on the import of flat rolled products of other alloy steel of a width of 600mm or more as well as of a width of less than 600mm under PCT 72.25 and 72.26.
Importing bars and rods, not rolled, in irregularly wound coils of other alloy steel under PCT 72.27 will be subject to 5.0 percent regulatory duty.
Regulatory duty on import of wire of other alloy steel has been raised to 20 percent from existing 15 percent.
Regulatory duty on import of other tubes and pipes (for example, welded, riveted or similarly closed), having circular cross-sections, the external diameter of which exceeds 406.4 mm, of iron or steel is also increased to 17.5 percent from existing 15 percent.
Moreover, RD at the rate of 10 percent has been imposed on the import of standard wire, ropes, cables, plaited bands, slings and the like of iron or steel, not electronically insulated under PCT 73.12; import of screws, bolts, nuts, coach screw hooks, rivets, cotters, cotter-pins, washers and similar articles of iron or steel under PCT 73.18 would invite RD at 10 percent.
Bars and rods, hot rolled, in irregularly wound coils, of
stainless steel; angles, shapes and sections of stainless
steel; wire of stainless steel under PCT 72.21, 72.22 and 72.23 have been exempted from regulatory duty in terms of SRO 568(I)/2014. RD on silico-manganese steel at the rate of 15 percent in terms of SRO 568(I)/2014 has also been withdrawn.