Armoured protected vehicles: concessional rates, duties to be announced

The federal government will announce concessional rates of duties and taxes on the import of armoured protected vehicles keeping in view the rising incidence of terrorist attacks targeting high profile personalities, including businessmen and politicians.
Sources told Business Recorder here on Tuesday that the demand of armoured protected vehicles has substantially increased following terrorist attacks on high profile personalities. A high-level committee headed by FBR Chairman Salman Siddique would examine reduction in the existing duties and taxes structure on the import of such vehicles to provide maximum protection to such persons. A final decision would be taken by the Economic Co-ordination Committee (ECC) of the Cabinet.
Details revealed that the rising frequency of terror strikes against persons hailing from various walks of life including politicians, businessmen, industrialists and bureaucrats has led to a growing demand for import of duty-free/concessional duty armoured protected vehicles.
According to sources, the Prime Minister has constituted a committee to deliberate and frame a policy proposed for import of duty free/concessional duty armoured vehicles for consideration of the ECC. The committee shall frame its own Terms of Reference and may co-opt any other member. The FBR Chairman would be the convenor of the committee while Secretary Commerce, Secretary Industries and Secretary Interior would work as its Members. The Prime Minister has given one week''s time to the committee to finalise the duties and taxes reduction proposal regarding the import of vehicles, sources added.