ISLAMABAD, Aug 10: The government on Saturday reduced the customs duty on about 20 items to do away with various anomalies of budget 2002-03.
The decision has been taken on the recommendations of Budget Anomalies Committee, which had examined about 80 cases of customs anomalies sent by the local industries.
Out of these, anomalies were found only in 20 cases in which customs duty was reduced in 15 cases while remaining five cases were related to the technical errors, said a senior official in the Central Board of Revenue.
Earlier, these cases were referred to the Economic Coordination Committee (ECC) of the Cabinet for approval by the anomalies committee seeking revision in the duty rates as announced in the budget 2002-03. In this connection four different notifications were issued here on Saturday stipulating the new rates.
The government has reduced the customs duty from 20 per cent to 10 per cent on smuggled prone items, including black pepper; cassia; cloves; cardamom (big); cardamom (small) and the import duty on un-manufactured tobacco, tobacco refuse was reduced from 25 per cent to 5 per cent only.
On import of machinery and equipment, the customs duty was reduced to zero rate from 5 per cent if not manufactured locally and imported for the purpose of wheat or grain storage and cool chain.
The import duty on eye drops and ointment medicinal was reduced from 20 per cent to 10 per cent, while the customs duty was reduced from 20 per cent to 10 per cent on import of sterile surgical catgut, similar sterile suture materials if registered as drug under Drug Act, 1976 (XXXI of 1976).
The duty on PVC was reduced to 20 per cent if imported by the manufacturers of first aid bandages in such quantities as determined by chief (survey CBR).
And the customs duty was reduced from 25 per cent to 5 per cent on polyester base film/polyester film un-coated if imported by audio tape manufacturing units or metallic yarn manufacturing units in such quantities as are determined by chief (survey CBR).
The government has reduced the customs duty to 5 per cent on import of flat-rolled products of iron or steel, of thickness exceeding 10mm and width exceeding 1250mm; flat-rolled products of iron or steel, of grade ASTMA 516 Gr 60 & grade 70; tubes, pipes and hollow profiles of stainless steel, tubes or pipe fittings of stainless steel; other packing or wrapping machinery (including heat-shrink wrapping machinery) and AC clutch motors for industrial sewing machines, respectively.
Similarly, the duty on import of submersible motors of stainless steel was reduced to 10 per cent, and 10 per cent duty will be applicable on import of machinery, components, raw materials, goods like locomotives passenger coaches, freight wagons, tracks and the allied railway specific goods as are not manufacture locally was reduced to 10 per cent if imported by Pakistan Railways subject to the conditions that a written declaration was made on each bill of entry to the effect that the goods have been imported for direct use by the Pakistan Railways and shall not be used otherwise.
The government notified 10 per cent customs duty on raw materials of audio/video cassettes-magnetic tape in jumbo rolls and pancake only, high impact polystyrene and components, while on its finished products audio/video cassettes it will be raised to 20 per cent through an ordinance.
And the customs duty was exempted in excess of 5 per cent ad vol on import of a chemical Gelatin used in the manufacturing of pharmaceuticals.
































