ISLAMABAD, Jan 9: India has slashed customs duty on edible oil imports from Pakistan and Sri Lanka by more than 23 per cent under the South Asian Free Trade Agreement (Safta).
Exporters of the two South Asian countries would now clear their consignments of edible oils to Indian on a reduced rate of 52.5 per cent as against the earlier customs duty rate of 68.75 per cent.
A commerce ministry official told Dawn that the reduction would help increase Pakistan’s edible oil export to India.
India is one of the world’s largest importers of edible oils which it imports largely from Malaysia, Indonesia, Argentina and Brazil.
