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The duty-free rice import period was extended by another three
months. As a result, duty will not be paid on the import of rice till March 31.
Besides this, instead of the regulatory 25 percent, 5 percent has to be paid.
The order was issued by the National Board of Revenue (NBR) on Wednesday
(December 7, 2022).
The first step was taken in June to encourage imports as domestic rice prices rose. In an order dated June 22, the 25 percent import duty was withdrawn and the regulatory duty was reduced from 25 percent to 10 percent.
Then in August, another notification reduced the regulatory
duty to 5 percent. Later, till December 31, this facility was maintained for
traders importing boiled rice and rice. Now, this facility has been extended for
another three months.
Source:
Online/SZK
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