The Federal Board of Revenue (FBR) has imposed a 40% Regulatory Duty (RD) on the commercial import of old and used vehicles, according to a notification issued on Wednesday. The duty applies to vehicles under PCT headings 8702, 8703, 8704, and 8711 of the Customs Act, 1969, imported under clause (xvi) of Serial No.10 of […]
import
SBP lifts restrictions on exchange operators’ ability to import dollars
SBP allows import of US dollars against export consignments. Exchange companies must ensure compliance with all laws. ECAP General Secretary Zafar Paracha welcomes the move. KARACHI: The State Bank of Pakistan (SBP) has lifted import limits on US dollars, enabling exchange businesses to bring in more cash to cover the value of their export shipments […]
Permits issued for import of 13000 tonnes of tomato, onion
PESHAWAR: The government has issued permits for import of 13,000 tonnes of tomato and onion from different countries to stabilize the price of commodities in Pakistan, which shot up after devastating floods damaged crops and communication links. “Today, government has issued permits for import of 13000 tonnes of tomato and onion and more permits are […]
Govt to import wheat, sugar despite ‘bumper’ crops to maintain ‘strategic reserves’
ISLAMABAD: Parliamentary Secretary for Finance and Revenue Zain Hussain Qureshi on Thursday informed the National Assembly that despite bumper crops, four million metric tons wheat and sufficient quantity of sugar would be imported to maintain strategic reserves of the commodities. Replying to various supplementary questions during the Question Hour, he said that the government has […]
8.26% reduction in imports of petroleum group
ISLAMABAD: Imports of the petroleum group fell by 8.26% in the first ten months of this fiscal year relative to the same timeframe the previous year. According to the Pakistan Bureau of Statistics (PBS), petroleum group imports decreased from US $ 9,480,954 thousand in FY 2019-20 to US $ 8,697,822 thousand in the current financial […]