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Fibre2Fashion
Published
Jul 19, 2016
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Pakistan levies 10% import duty on cotton yarn

By
Fibre2Fashion
Published
Jul 19, 2016

Pakistan government has announced an import duty ranging from 10% to 30% on cotton yarn and other commodities such as iron and alloy steel, according to media reports from Karachi, the country’s commercial capital.


Pakistan government has announced an import duty ranging from 10% to 30% on cotton yarn. - archiv


As per SRO 614(I)/2016, government has withdrawn regulatory duty exemption on the import of cotton yarn, which would now be subject to 10 % regulatory duty (RD).

Pakistan imported cotton yarn worth $27.35 million in the first half of this calendar year.

According to the SRO, semi-finished products of iron or non-alloy steel and various sections of steel beams would be subject to 30% import duty, while import of alloy steel in ingots or other primary forms would attract a levy of 15% and imported semi-finished products of high speed steel would be slapped with 25% regulatory duty.

Earlier, bars and rods, angles, shapes and sections, hollow drill bars and rods of alloy or non-alloy steel were exempt from import duty but even these items will attract a regulatory duty of 30% on their import.

The import of the above mentioned iron-steel products during the first half of this calendar year stood at $60.141 million. Also, the import of unsweetened cocoa powder which stood at $6.72 would now attract a regulatory duty of 10%.
 

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