FBR exempts some yarn from regulatory duty

ISLAMABAD: The Federal Board of Revenue (FBR) has exempted yarn exports made from material imported under any temporary importcum- export scheme from a 15 per cent regulatory duty.

In this connection, the FBR issued an amended SRO (I)/2010 on Friday. The Cabinet Committee on Textile had on Wednesday decided to impose 15 per cent regulatory duty on exports of all types of yarn. It is interesting that a day after issuing the notification to impose 15 per cent regulatory duty on exports of all types of yarn, the FBR issued the amended notification which said that no regulatory duty would be levied on exports of yarn or the component of blended yarn made from the material imported under any temporary importcum- export scheme.

Published in the Express Tribune, May 15th, 2010.