May 13, 2006	Saturday	Rabi-us-Sani 14, 1427

ISLAMABAD, May 12: The government on Friday exempted customs duty in excess of five per cent from import of dump truck and machinery/parts of liquefied natural gas (LNG).

The decision was announced through a customs notification issued here by amending the last year budgetary notifications.

Through the notification, the CBR withdrew customs duty in excess of five per cent from the import of highway dump trucks of 320 HP and above. The decision would be effective retrospectively from August 6, 2005.

The exemption would be available if imported by construction companies subject to the following conditions: These should be registered as highway dump trucks and shall be used exclusively for the construction purposes. The registration details should be furnished to the collector of customs within three months of the clearance.

These shall not be sold or otherwise disposed of within 10 years except to another construction company after NOC from the collector of customs concerned.

Through another customs notification, the earlier SRO678 of 2004 was amended by exempting customs duty in excess of five per cent from import of plant, machinery and equipment as are not manufactured locally.

The government also exempted import of those parts and machinery used in the LNG sector from the whole of 15 per cent general sales tax.