ISLAMABAD: The Federal Board of Revenue (FBR) has implemented regulatory duties on a range of imported items, including essential raw materials used in pharmaceuticals and industrial sectors, aimed at fortifying economic strategies and fostering local production.
Effective immediately, the FBR has imposed a 10% regulatory duty on key substances such as calcium, chloroform, and dioctyl terephthalate. Additionally, levofloxacin, a critical third-generation antibiotic, will carry a 10% duty until December 31, 2024, escalating to 20% from January 1, 2025. Caffeine and its derivatives will face similar duties, set at 10% until December 31, 2024, and 20% thereafter.
Furthermore, the FBR has introduced a 5% regulatory duty on seed grading, sorting, and cleaning machines, vegetable drying machines, and various other machinery. Specific items such as calcium carbide, chloroform, and dioctyl terephthalate will bear a 10% duty.
In a bid to balance trade dynamics, the regulatory duty on sodium carbonate has been reduced from 20% to 10%. Chewing gum and chloroparaffin liquid will each carry a 10% duty until December 31, 2025, while duties on polyurethanes and polymers of vinyl chloride and other plastics will be set at 5% and 10%, respectively, until specified dates.
Moreover, the FBR has implemented structured duties on Dia's tubes and sleeves, multiply products, self-adiso, secondary quality iron flat rolled products, cold-rolled steel strips, and various steel products, tailored to support domestic industries and economic growth.
"These measures are part of our commitment to enhance economic resilience and promote local manufacturing capabilities," stated a spokesperson for the FBR. "We believe these duties will stimulate local production while safeguarding our economic interests."