ISLAMABAD, June 18: The government has raised customs duty on import of around 33 items in a bid to provide protection to local industries. Officials told Dawn on Saturday that duty on these items had been reduced downward in the budget of 2005-06 through finance bill, but was revised upward at the recommendations of local industries, members of National Assembly and Senators.
These changes have been duly incorporated in the Finance Act 2005, which was passed by the National Assembly on Friday, added the officials.
The officials said that except for around 33 items and one legal change, other items on which the customs duty was reduced in the budget of 2005-06 along with legal changes made in the customs act were left untouched.
According to the officials, the duty has been revised upward on diesel engine from budgetary 10 per cent to 20 per cent; petroleum bitumen from 15 per cent to 25 per cent; asphalt from 5 per cent to 10 per cent.
The duty has, however, been revised downward on raw materials — pet resin used in manufacturing of pet bottles mostly used in beverages industries from budgetary duty of 20 per cent to 10 per cent. The duty was reduced from budgetary 10 per cent to 3 per cent on import of nylon chip.
The duty has been revised upward to pre-budget duty of 25 per cent from 20 per cent on import of PVC sheet to provide protection to local industries; from 5 per cent to 10 per cent on import of hand tools of different types and from 5 per cent to 20 per cent on import of cannula.
According to the officials, the time period for provisional assessment of imported goods has been slashed from 12 months to nine months at the recommendations of the businessmen.
Earlier, it was fixed to give provisional assessment report within a period of six months, which was proposed to be enhanced to 12 months in the budget of 2005-06.
The government has also fixed six months period for disposals of cases at tribunal level for all taxes, which the officials said would help reduce the pendency of cases at this forum.
