Import duty on eatable, luxury items raised by up to 50pc

[SoulSpokesman]

@Syed.Ali.Haider

What do you reckon will happen next, sir?

Regards

 

[Yaseen1]

Sc should take suo moto notice of this

 

[VCheng]

@Syed.Ali.Haider

What do you reckon will happen next, sir?

Regards

More foreplay until the real negotiations start in earnest, in a several months, or after elections, if they are held.

 

[SoulSpokesman]

What would be the specific steps that Pak may be required to take? Devaluation? What else?

Regards

 

[VCheng]

What would be the specific steps that Pak may be required to take? Devaluation? What else?

Regards

The steps depend on the magnitude and timing of the bailout package being sought by Pakistan, if and when it comes to that.

 

[Arsalan]

Not a bad move in my opinion as long as there is a clear cut list of products that will face increased duties. In my opinion, gov. should further increase the tax by 200% on non-essentials (like cigarettes, imported eatable products and juices etc). Saying that people will die of starvation because duty or tax on cheese have been increased is absurd. Make the non-essentials expensive and use that income to make essential products cheaper. Easier said than done but still i line of action i think.

Sorry but i cannot criticize any and ever decision just because it is taken by PMLN. I am all support for making this crap expensive. In fact, start taxing the food chains HEAVILY. Make people cook at home and it will solve the traffic problem of Lahore as well (was stuck in traffic for 4 hours night before last )

 

[DESERT FIGHTER]

In Pakistan.



Taken from budget 2017 press brief:

AGRICULTURE
- Continuation of subsidized electricity for agri-tube wells
- Single-digit (9.9%) mark-up rate for farmers utilizing loans up-to Rs.50,000
- Continuation of subsidy on electricity to low-income and low-usage customers
- Credit to agriculture sector – increased from Rs.700 billion target of the current year to Rs.1,001 billion

http://www.finance.gov.pk/budget/Federal_Budget_Press_Brief_2017_18.pdf

Everything looks good on paper.

I do own agricultural land and trust me farmers curse PMLN.

 

[Paranoid Android]

ISLAMABAD: The government has imposed regulatory duty on import of 36 new products and raised its rates on the existing 240 items in a fresh move to curtail rising trade deficit of the country.

The import of these eatable and luxury items — on which the duty has been raised by up to 50 per cent — saw approximately 40pc growth in the first three months of the current fiscal year, despite the fact that the government has already increased regulatory duties on most of these products in the last budget. This is the second time that the PML-N government has come up with such a huge increase in the rates of regulatory duties on imported items. In the budget for 2017-18, the government raised the regulatory duties on 565 tariff lines.

On Tuesday, the Federal Board of Revenue issued a new notification of regulatory duties on 731 tariff lines.

Also read: Fresh duties to cut import bill by up to $2 billion

But a senior customs official said that all the items subjected to regulatory duties were consolidated into one SRO as against the earlier eight different SROs. He said no change was made in regulatory duties on 430 tariff lines.

Prices of wheat, sugar, vegetables, fruits, cosmetics, electronics and cars will go up

According to the official, the additional duty to be collected from these products would be used to provide cash subsidy to exporters and clear their outstanding dues stuck with the government. The new items that were subjected to regulatory duties include washing preparations, plastic products, tyres of trucks and cars, parts of air-conditioner, varnishes and cigarette papers.

On import of new cars of up to 1800cc, 15pc regulatory duty was imposed while in the case of above 1800cc luxury cars, the duty was increased to 80pc from 50pc.

Examine: A balancing act to keep IMF at bay

Eatables
The eatable items on which regulatory duty has been increased include whey powder (from 20pc to 25pc), curd (15pc), grated or powdered cheese of all kinds, processed cheese (from 20pc to 40pc) and desiccated coconut (from 15pc to 35pc).

The duty on fresh grapes, watermelons, apricots and peaches has been raised from 20pc to 40pc, on prunes, apples, tamarind, cherries, pine nuts (chilgoza), plums, lychees, raisins and dried fruits from 20pc to 50pc and on peaches from 20pc to 45pc.

The duty on wheat and other types of wheat has been increased to 60pc from 25pc, on betel leaves to Rs400 per kg from Rs200kg and on beet sugar, jaggery (gur), cane sugar, white crystalline cane sugar and cocoa powder to 40pc from 20pc.

The regulatory duty on potatoes, vegetables and mixtures of vegetables has been raised to 50pc from 20pc. On import of pineapples and aerated water, the duty has been raised to 40pc from 20pc. The duty on different types of juices, soya sauces, tomato ketchup, tomato sauces and mustard flour has been enhanced to 50pc from 20pc.

Cosmetics
The duty has been raised to 50pc from 20pc on perfumes, lip makeup preparations, eye makeup preparations, nail polish, face powder, talcum powder, face and skin creams, tonics and skin food, shampoos, cream for hair, hair lacquers, dyes for hair, toothpaste, dental floss, perfumed bath salts and other bath preparations and shaving cream.

The duty has been raised to 50pc from 20pc on contact lens solution, joss sticks (agarbatti), medicated products for toilet use, soap in other form and organic surface active products and preparations for washing the skin in the form of liquid and cream.

The regulatory duty has been raised to 40pc from 20pc on products of leather. The duty on articles of apparel and clothing accessories of leather has been raised to 50pc, on footwear to 35pc from 15pc and on different marbles to 45pc from 25pc.

Ceramics
The duty has been raised to 40pc from 20pc on washbasin, cisterns ceramic, sink ceramic, toilet ceramic, ceramic sinks, washing basis and dinner sets, dishes, plates, tea cups. The duty on glass beads and imitation pearls has been enhanced to 55pc from 25 and on imitation jewelry to 45pc from 15pc. The duty on LCD, LED and TVs has been raised to 40pc from 20pc and on wood and metal furniture to 40pc from 20pc.

Electronics
The duty has been raised from 20pc to 40pc on ACs self-contained or split type comprising inner and outer unit whether or not imported separately and air-conditioners and on part of air-conditions and fully-automated machines from 20pc to 40pc. The duty has been raised to 50pc from 20pc on chandeliers, lightings, electric tables, desk, bedside or floor standing lamps, illuminated signs, illuminated name plates, videogames consoles and machines.

Sports products
The regulatory duty has been raised to 50pc from 20pc on various articles of table tennis, badminton, squash, cricket balls, balls of other games and football, and to 30pc from 20pc on different products like cover, bladders, bats, wickets, pads, sets, sticks, etc.

Published in Dawn, October 18th, 2017

https://www.dawn.com/news/1364509/

 

[Hell hound]

Not a bad move in my opinion as long as there is a clear cut list of products that will face increased duties. In my opinion, gov. should further increase the tax by 200% on non-essentials (like cigarettes, imported eatable products and juices etc). Saying that people will die of starvation because duty or tax on cheese have been increased is absurd. Make the non-essentials expensive and use that income to make essential products cheaper. Easier said than done but still i line of action i think.

Sorry but i cannot criticize any and ever decision just because it is taken by PMLN. I am all support for making this crap expensive. In fact, start taxing the food chains HEAVILY. Make people cook at home and it will solve the traffic problem of Lahore as well (was stuck in traffic for 4 hours night before last )

bro i would happily accept this increase had they be providing us with the quality local substitute for the products they are taxing but that is not the case.

 

[Gufi]

Sorry but i cannot criticize any and ever decision just because it is taken by PMLN. I am all support for making this crap expensive. In fact, start taxing the food chains HEAVILY. Make people cook at home and it will solve the traffic problem of Lahore as well (was stuck in traffic for 4 hours night before last )

Many people find employment in places where you discussed your radical measures. First make local industries which can produce quality products then do whatever you wish with it. If it all for Pakistan first tax tea, a non essential which contributes to a large number of our imports. Do read my posts on this thread.

https://defence.pk/pdf/threads/impo...ised-by-up-to-50pc.523815/page-2#post-9950509

 

[BATMAN]

1: Stop watching Indian movies, stop buying that product where India models are used for promotion.
2: Block European and American tours of govt. officials, incl. President and PM.
3: Clamp down on open market currency exchange business.
4: Ban import of foreign made cars.
5: Control use of oil products, and focus on alternate energy and energy conservation.
6: last but not least, confiscate all properties of politicians and sell them.

 

[Hell hound]

3: Clamp down on open market currency exchange business.
4: Ban import of foreign made cars.

in turn destroy the investors confidence so he can fly away with his money to countries like Bangladesh.

5: Control use of oil products, and focus on alternate energy and energy conservation.

this alternate energy is a lot more expensive and less efficient plus for an energy starved nation like us we don't have time for it.

6: last but not least, confiscate all properties of politicians and sell them.

you have no right to confiscate any ones wealth until proven in court that i was made illegally. doing so without court order will be considered equal to bhutto's nationalization by investors

1: Stop watching Indian movies, stop buying that product where India models are used for promotion.

these thing don't have impact on macro economy of a country.

2: Block European and American tours of govt. officials, incl. President and PM.

and how are they suppose to perform their duties then.i understand the need for proper checks and controls on the tour expenditures but out right banning them is rubbish and will be only favoring India's isolation policy

 

[Imad.Khan]

95% of Pakistanis do not eat imported food. Use brain before posting.

Duties are imporsed on imported items not locally produced.

thats coz 95% people can't afford food thanks to your leader's experienced team. Also where are the tomatoes going to come from.

 

[xyxmt]

95% of Pakistanis do not eat imported food. Use brain before posting.

Duties are imporsed on imported items not locally produced.

I stopped explaining to "stupid" team a while back, no use man.

 

[Śakra]

Looks like raising funds to pay for the $16 billions due this year