Import ban doesn’t apply to industrial inputs: ministry
- Commerce Ministry issues an office memorandum regarding SRO598(1) 2022 dated 19 May 2022, whereby, the import of certain luxury and non-essential items has been prohibited
ISLAMABAD: The Ministry of Commerce has clarified that the ban on the imported items under SRO598(1) 2022 shall not apply to raw material, intermediate goods and industrial equipment/machinery required by manufacturing/industrial concerns and foreign grant-in-aid projects.
In this connection, the Commerce Ministry has issued an office memorandum regarding SRO598(1) 2022 dated 19 May 2022, whereby, the import of certain luxury and non-essential items has been prohibited.
On Tuesday, the Federal Board of Revenue (FBR) has directed its field formations to implement the clarification issued by the Commerce Ministry regarding SRO.598(I)/2022.
Import ban: Commerce ministry notifies list of 38 items
The clarification has been issued in view of the concerns raised by different trade organizations and domestic industry regarding import of raw materials, intermediate goods and industrial equipment falling under different PCT codes of the list of the said SRO.
Copyright Business Recorder, 2022
Comments
Comments are closed for this article.