Inside Financial Markets
RD on import of wheat increased

RD on import of wheat increased

The Federal Board of Revenue (FBR) has increased regulatory duty on the import of wheat from 40 to 60 percent from September 9, 2016. According to a notification issued by the FBR here on Wednesday, the FBR has amended SRO.254(I)/2015 which deals with the imposition of the RD on the import of wheat, wheat flour, Maida and Semolina. The Economic Co-ordination Committee (ECC) of the Cabinet had decided to increase the regulatory duty on the import of wheat from 40% to 60%.

Following is the text of the SRO issued here on Wednesday: In exercise of powers conferred by sub-section (3) of section 18 of the Customs Act, 1969 (IV of 1969), the Federal Government is pleased to direct that the following further amendment shall be made in its Notification No SRO 254(I)/2015 dated the 30th March, 2016, namely: In the aforesaid notification, in the table, in column (1) against serial No 1 in column (4), for the figure “40%” the figure “60” shall be substituted.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)