July 2, 2003	Wednesday	Jumadi-ul-Awwal 1, 1424

ISLAMABAD, July 1: The National Tariff Commission will hold a public hearing on July 8 on the request by the formal sector for reduction of customs duty rate to 10 per cent on the sportswear imported by them.

The reason given by them for this request was that the products imported officially are rendered more expensive than the smuggled products, because of 25 per cent customs duty on following items: Track and field footwear, basket ball footwear, football and trekking footwear, other sports footwear, bags for sports training and school and sports caps.

As majority of the retailers are unregistered, evasion of import duties, sales tax and income tax by the informal sector, the products imported through regular channels involving heavy taxes become uncompetitive. This also results in huge loss to the tax revenues, it was contended.

The commission has also invited the views of all the parties interested in the said business within 10 days. These views are to be sent to the secretary of National Tariff Commission in Islamabad.