Islamabad June 4 2022: The Economic Coordination Committee (ECC) on Friday approved to charge 10% Custom Duty on imports of Motor Spirit originating from China.
Ministry of Commerce submitted a summary on levy of regulatory duty on import of Motor Spirit. It was informed that the import of Motor Spirit (MS) is subject to 10% Custom Duty under the 5th schedule of the customs Act, 1969, but it is subject to 0% under China Pakistan Free Trade Agreement (CPFTA).
Those availing the FTA exemption pay zero customs duty while others pay customs duty @ 10%. The ECC after discussion, in order to address this anomaly, allowed levy of 10 % regulatory duty on import of MS. However, where customs duty @10% is paid on import of MS, it will be exempted from levy of regulatory duty.
Pakistan was the top destination for China’s gasoline exports in March, taking almost half of the outflows for the month, data from the General Administration of Customs showed April 20.
The exports of 574,000 mt to Pakistan — a record high which accounted for 49.6% of the combined gasoline exports from China in March– was up 202.7% from February and 980% higher than a year earlier.
The last record for gasoline exports to Pakistan was 460,072 million tons in October 2021.
