The government is providing further major duty benefits on import of rice amid rising prices in the country’s market.
According to an NBR circular on Sunday, large duty concessions have been given to encourage imports to control rising prices of rice in the domestic market. In the notification, total regulatory duty on import of rice has been reduced from 25 percent to 5 percent.
The directive will come into effect immediately and will remain in force till December 31 this year on the import of unflavoured rice and parboiled rice.
Earlier on June 22 this year, conditional duty exemption and regulatory duty on rice import was reduced from 25 percent to 10 percent. At that time, it was said that the concessionary duty facility would remain in force till October 31 this year.
In Sunday’s notification, the regulatory duty was further reduced to 5 percent, cancelling the previous notification.
