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Duty on fertiliser machinery halved
ISLAMABAD (April 07 2004): The Central Board of
Revenue (CBR) has slashed custom duty on import of
fertiliser machinery from 10 percent to 5 percent.
In this regard, CBR has amended SRO 439(I)/2001
through a notification here on Tuesday.
The decision would be instrumental in improving
investment in fertiliser sector.
Sources said that the fertiliser sector could
operate as 'value-added industry' for availing
concessional rate of import duty as per
SRO.439(I)/2001.
Presently, a number of 'value-added industries'
are enjoying this facility on import of machinery
and apparatus.
They said that the reduction in duty on import of
fertiliser machinery/equipment would be a major
incentive for the industry.
Following is the text of the SRO issued here on
Tuesday:
In exercise of the powers conferred by section 19
of the Customs Act,1969, the Federal Government is
pleased to direct that the following further
amendment shall be made in its notification
No.SRO.439(I)/2001 dated the 18th June 2001,
namely:
In the aforesaid notification,
(a) in Table; under the heading "General or
miscellaneous:, after Sr. No.20 in column (1) and
the entry relating thereto in column (2), the
following new serial number and the entry relating
thereto in column (2) the following new serial
number and the entry relating thereto shall be
added, namely:-
"21. Fertilisers; and
(b) in Table-III, Sr. No.3 and the entry relating
thereto shall be omitted.
Courtesy Business Recorder |
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Pakissan.com; Advisory Point
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