AIRLINK 58.43 Decreased By ▼ -0.17 (-0.29%)
BOP 6.19 Decreased By ▼ -0.02 (-0.32%)
CNERGY 3.95 Decreased By ▼ -0.04 (-1%)
DFML 16.22 Increased By ▲ 0.21 (1.31%)
DGKC 68.10 Increased By ▲ 0.78 (1.16%)
FCCL 17.75 Increased By ▲ 0.20 (1.14%)
FFBL 25.75 Decreased By ▼ -0.14 (-0.54%)
FFL 9.19 Increased By ▲ 0.05 (0.55%)
GGL 9.97 Increased By ▲ 0.20 (2.05%)
HBL 113.50 Increased By ▲ 1.00 (0.89%)
HUBC 111.50 Decreased By ▼ -3.79 (-3.29%)
HUMNL 6.71 Increased By ▲ 0.12 (1.82%)
KEL 4.21 Decreased By ▼ -0.01 (-0.24%)
KOSM 4.36 Increased By ▲ 0.80 (22.47%)
MLCF 37.69 Increased By ▲ 0.58 (1.56%)
OGDC 120.90 Increased By ▲ 4.50 (3.87%)
PAEL 22.75 Increased By ▲ 0.04 (0.18%)
PIAA 10.77 Decreased By ▼ -0.02 (-0.19%)
PIBTL 6.23 Decreased By ▼ -0.02 (-0.32%)
PPL 107.10 Increased By ▲ 3.10 (2.98%)
PRL 26.71 Increased By ▲ 0.32 (1.21%)
PTC 9.50 Decreased By ▼ -0.03 (-0.31%)
SEARL 53.10 Increased By ▲ 1.11 (2.14%)
SNGP 66.00 Increased By ▲ 0.88 (1.35%)
SSGC 11.09 Increased By ▲ 0.16 (1.46%)
TELE 7.18 Decreased By ▼ -0.03 (-0.42%)
TPLP 11.97 Decreased By ▼ -0.02 (-0.17%)
TRG 75.95 Decreased By ▼ -0.90 (-1.17%)
UNITY 20.45 Decreased By ▼ -0.04 (-0.2%)
WTL 1.30 No Change ▼ 0.00 (0%)
BR100 6,378 Increased By 46.6 (0.74%)
BR30 21,723 Increased By 93.4 (0.43%)
KSE100 62,308 Increased By 393.5 (0.64%)
KSE30 20,951 Increased By 100.7 (0.48%)

ISLAMABAD: The Federal Board of Revenue (FBR) has exempted up to June 30, 2021 the importers of cotton yarn from payment of customs duty.

According to a notification issued by the FBR on Thursday, the federal government has waived the whole of customs duties on import of cotton yarn (other than sewing thread) containing 85% or more by weight of cotton, not put up for retail sale; cotton yarn (other than sewing thread) containing less than 85% by weight of cotton, not put up for retail sale and cotton yarn (other than sewing thread) put up for retail sale.

This notification shall remain in force till June 30, 2021.

The Economic Coordination Committee (ECC) had withdrawn customs duty on import of cotton yarn in order to facilitate the value-added exporters.

It is pertinent to mention here that the regulatory duty was already withdrawn in December 2020 on the recommendation of the commerce ministry.

Now the value-added manufacturers and exporters can import cotton yarns at zero-percent customs duty.

Copyright Business Recorder, 2021

Comments

Comments are closed.