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The Federal Board of Revenue (FBR) has granted concessionary rate of customs duty or zero percent duty on the import of 6,786 items from China with effect from January 1, 2020. The FBR has issued SRO 1640(I)/2019 here on Tuesday in supersession of notification SRO 659(I)/2007, dated the 30th June, 2007.

According to the SRO 1640(I)/2019, in exercise of the powers conferred by section 19 of the Customs Act, 1969, and in supersession of notification SRO 659(I)/2007, dated the 30th June, 2007, the federal government has exempted, with effect from January 1, 2020, unless specified otherwise, the import into Pakistan from China of the goods specified from so much of the customs duty specified in the First Schedule as on the 1st January, 2020.

Provided that the goods are manufactured or produced and imported in conformity with the Rules of Determination of Origin of Goods and the operational certification procedures for the Rules of Origin notified by the Ministry of Commerce vide SRO 1286(I)/ 2005, dated 24th December, 2005 read with the Import Policy Order, 2016.

The reduced rate of duty, fixed rate or zero percent duty would be applicable on the import of crude oil (Rs 8000/MT), palm stearin (Rs 9050/MT), RBD Palm oil (Rs 10800/MT), palm olein (Rs 9050.0/MT), pure breeding animals, meat of goats, fish, yogurt, whey powder, butter, dairy spreads, cheese, honey, vegetables, mushrooms, green tea, black tea, rice, beverages, gold, silver, varnishes, artificial staple fibers, vehicles parts, satellite communication equipment, radio navigation apparatus, parts/accessories for cable TV/satellite receivers, energy saving lamps, cameras, energy saving tubes, components for the assembly/manufacture of vehicles in any kit form and other items specified in SRO 1640(I)/2019.

Copyright Business Recorder, 2019