RD, customs duty to be abolished on import of 20-25 items

The Federal Board of Revenue (FBR) will abolish regulatory duty (RD) and customs duty on import of 20-25 items including cotton and man-made fiber falling under different Pakistan Customs Tariff (PCT) headings. Sources said that only abolition of customs duty on the import of cotton and man-made fiber would not serve the purpose under the PM package for exporters. To bring all rates of duty/RD at zero percent, the FBR will also abolish RD on the import of different kinds of man-made fiber wherever applicable. Thus, the FBR may issue separate SROs for withdrawal of duty and RD on the import of these items.