ISLAMABAD, March 22: The Central Board of Revenue (CBR) has notified exemption of customs duty in excess of five per cent ad valorem on import of raw materials for the basic manufacture of pharmaceutical active ingredients.

CBR issued a notification on Friday amending the budgetary notification in this connection.

The notification reads as: “The federal government is pleased to direct that the following further amendments shall be made in its notification SRO416(I)/2001, dated the 18th June, 2001, namely- in the aforesaid notification, in the preamble, a) for the comma and figures “II and III” the word and figure “and II” shall be substituted and b) for the commas, word and dash “if,” the words, figures, commas, brackets and dash “and the goods specified in table III below and other basic raw materials for the basic manufacture of pharmaceutical active ingredients falling under respective headings, shall be exempt from so much of the customs-duty leviable thereon under the first schedule to the Customs Act, 1969 (IV of 1969), as is in excess of five per cent ad valorem, if,” shall be substituted.”