Pakistan Withdraws Regulatory Duties on Mobile Phones and Other Items
Great news for smartphone and car lovers in Pakistan! The government has decided to withdraw regulatory duties on the import of mobile phones and other items, including used cars with engine capacities of up to 1,800cc. This move is expected to provide significant relief to consumers facing higher prices due to the previously imposed duties.
Reduction of Duties on a wide range of products
According to reports, duty taxes on new and used automobiles, high-end mobile phones, home appliances, meat, fish, fruits, vegetables, footwear, furniture, musical instruments, pet food, and ice cream have also been reduced.
The decision to eliminate the tax was made because the government’s policy to reduce imports by imposing hefty taxes did not produce the intended results and negatively impacted the country’s business sector. The validity of the two Statutory Regulatory Orders (SROs) that imposed tariffs ended on March 31 after the Tariff Policy Board refused to extend them.
Following the expiration of SROs, the importers of used vehicles up to 1800cc will receive a 100 percent exemption, while regulatory duty on mobile phones will be reduced in half.
Due to dwindling dollar reserves, the government implemented a ban on the import of a variety of products on May 19. The Tariff Policy Board denied the Federal Board of Revenue’s (FBR) request last month to extend the validity of the SROs until the end of June.
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