In an SRO, the revenue division of the Ministry of Finance and Revenue has levied a 10 percent regulatory duty on the import of motor spirit.
This, however, will only be imposed on the import of motor spirit that is exempted from custom duties of 10 percent – essentially imports from China under the China Pakistan Free Trade Agreement (CPFTA). The language of the SRO seems to be construed specifically to impact only motor spirit imports from China that had been enjoying an exemption from customs duties ever since the CPFTA II went into effect in January 2021.
The SRO also states that the imposition of the regulatory duty will not be levied on cargoes for which LCs had already been opened or were at high seas.
Mogas imports from China rose to 16 percent of the total in 2021 under the CPFTA II. This was first reported by Profit earlier in January this year.
