ISLAMABAD – Economic Coordination Committee (ECC) on Thursday has decidedto abolish customs duty, additional customs duty and sales tax on import ofcotton which would be effective from 1st of February till 30th June 2019 toensure sufficient supply of cotton for the industry.
Finance Minister Asad Umar chaired a meeting of ECC in Islamabad today andtook decision on the proposal of Commerce Division.Under Import policy 2016 the government has approved suggestion for ease ofdoing business.
The committee has reviewed a five point agenda during today’s meeting andapproved the regulatory amendments in the Export and Import Policy Order2016 to increase ease of doing business.
Read Top Stories
The ECC also approved a proposal of the Commerce Division that duty andtaxes on all imported vehicles in new and used condition under personalbaggage or gift scheme will be paid out of foreign exchange arranged byPakistani Nationals themselves or local recipient supported by bankencashment certificate showing conversion of foreign remittance to localcurrency.
