ISLAMABAD: The government has imposed regulatory duty on the import of edible oil, adding that prices of cooking oil and ghee are likely to rise further.
The federal government has imposed regulatory duty on the import of edible oil from all countries except Indonesia. The Federal Bureau of Revenue (FBR) has issued a formal notification stating that regulatory duties will not apply to the import of edible oil from Indonesia.
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Regulatory duty on edible oil imports from Indonesia has been waived till June 30. The notification said that the rates of customs duty on oil imports which are zero, 3 percent, and 11 percent will be regulated duty rate of 2 percent while the rate of regulatory duty on oil imports with 16% customs duty will be 4 percent.
Similarly, the rate of customs duty on oil imports will be 20 percent, the rate of regulatory duty on imports will be 6 percent and the rate of customs duty on imports will be 30 percent, and the rate of regulatory duty will be 7 percent.
