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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

12/06/2003

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

Business Recorder -

CATEGORY

HEADLINE

Oil seeds exempted from duty
ISLAMABAD (June 08 2003) : The government has slashed custom duty on crudepalm oil from Rs 9500 per MT to 9000 per MT, while oil seeds have been.

The CBR has withdrawn custom duty and sales tax on the import of machineryand equipment for pipeline projects, while the duty on import of plant andequipment for setting up new power generation projects has been reducedfrom 10 percent to 5 percent.

The duty on tea has been reduced from 25 per cent to 20 per cent, spices20 per cent to 10 per cent, ball bearing 10 to 5 per cent, wrist watches10 to 5 per cent, silk yarn 15 to 10 per cent, fresh fruits (imported fromAfghanistan) from 20-25 per cent to 10 per cent, medical equipment 10 percent to 5 per cent, while the duty on water purification preparations hasbeen brought down from 25 percent to 5 percent. (RM1= Rs15.29)