ISLAMABAD (December 17 2003): Following the decision of Economic Co-ordination Committee (ECC) of the Cabinet, the Central Board of Revenue (CBR) has notified zero-rated custom duty on import of wheat.
In this regard, CBR has amended SRO 358(I)/2002 of June 15, 2002 through SRO (I)/2003 issued here on Tuesday.
The CBR has asked the Ministry of Food, Agriculture and Livestock (Minfal) to monitor and check the quality and standard of the wheat imported by private sector.
The specifications for import of wheat issued by Minfal should be followed strictly, CBR added.
Sources said that reduction in duty would facilitate wheat import by private sector, as government is committed to taking all possible steps to ensure adequate stocks of wheat in the country.
The CBR has used powers conferred under section 19 of the Custom Act, 1969 (IV of 1969) to exempt wheat from custom duty.