Pakistan has withdrawn regulatory duties on the import of used cars of up to 1,800cc, mobile phones and other items that is expected to bring relief for consumers.
Reports said duty tax on old and new cars, high-tech mobile phones, home appliances, meat, fish, fruits, vegetables, footwear, furniture, musical instruments, dog and cat food and ice-cream have also been reduced.
The decision to abolish the tax comes as the government’s policy reduce imports by imposing heavy taxes did not yield desired results but it badly affected the business sector across the country.
The two Statutory Regulatory Orders (SROs), which were enforced to impose taxes, expired on March 31 after the Tariff Policy Board declined to extend the validity.
Following the expiry of SROs, the importers of used cars of up to the 1800cc category are the major beneficial as they will get 100% exemption while regulatory duty on mobile phones will cut to half.
On May 19, the government had imposed a ban on import of range of goods due to depleting reserves of dollars.
Last month, the Federal Board of Revenue (FBR) had made a request to the Tariff Policy Board to extend validity of the SROs until end June but it was turned down.
