FBR withdraws 5pc regulatory duty on cotton import

ISLAMABAD: In compliance with the government’s decision, the Federal Board of Revenue (FBR) has withdrawn five per cent regulatory duty on the import of cotton yarn.

The FBR issued SRO 1352(I)/2020 on Wednesday to amend SRO 680(I)/2019 dated June 28, 2019, to withdraw the regulatory duty on import of cotton yarn till June 30, 2021.

The Economic Coordination Committee (ECC) of the federal cabinet in a meeting held on December 2 had approved the removal of regulatory duty on import of cotton yarn.

The Ministry of Commerce had presented a proposal before the ECC in this regard.