ISLAMABAD, June 17: The federal government has exempted textile machinery from customs duty in the budget of 2002-03.

Central Board of Revenue (CBR) has issued a notification to this effect amending the SRO 431 issued on June 13, 1997.

The exemption will be available on components, sub- assemblies, assemblies and other items of machinery, as were not manufactured locally if imported by a local manufacturer for the manufacture and supply of complete unit or plant.

The notification reads as: “the Federal Government is pleased to direct that the following further amendment shall be made in its Notification No. S.R.O. 431(I)/97, dated the 13th June, 1997, namely: In the aforesaid Notification, in the Table, (a) after Sr.No. 6, the following new serial number and the entry relating thereto shall be added, namely:- 6A. Textile machinery.; and b) against S.No.7, for the existing entry the following shall be substituted, namely: Any other project approved by the Indigenization Committee of Engineering Development Board.