KARACHI: The Sindh High Court has dismissed as many as 121 petitions filed by iron and steel importers challenging the regulatory duty on the import of several goods vide amendment to SRO 568(I)/2014.
These 121 petition pertained to MCC Appraisement East and after the dismissal of these petitions, a revenue of Rs900 million would be realized.
Overall, this landmark decision would result in revenue recovery of Rs15.0 billion at Customs Appraisement South, as around Rs300 million each in terms of regulatory duty would also be realized at MCC Port Qasim and MCC Appraisement West.
Deputy Collector Rana Ali Waheed pursued the case and it was due to his efforts the case was so strong that the High Court dismissed the petitions.
Former Collector Appraisement East Manzoor Memon under Section 331b had hold all transshipment consignments to Lahore dry port because Lahore High Court had suspended SRO 568(I)/2015.
It may be mentioned here that after the Lahore High Court suspended the said SRO, the number of TPs to Lahore Dry Port had surged significantly. However, Additional Collector Shahab Imam and Assistant Collector Asim Rehman took a stand and stopped the TPs to Lahore.
Lahore High Court suspended the imposition of Regulatory Duty enforced via SRO 601(I)/2015 effective to the extent of Collectorates falling within the jurisdiction of Lahore High Court.
Resultantly, the importers diverted their shipments to Lahore dry port in order to avoid Regulatory Duty.
Sindh High Court in interim order had advised the importers to deposit the differential amount with the Nazir of the Court or submit bank guarantees against provisional release of goods.
Sources said that Customs authorities would encash the securities and draw from the court Nazir once the detailed judgment was issued.
The government had imposed regulatory duty ranging 5.0 percent to 15 percent on several items being imported from China under free trade agreement (FTA). The regulatory duty was in excess of already settled duty and taxes.