Govt abolishes regulatory duty on wheat import

ISLAMABAD (92 News) – The government has abolished the regulatory duty on the import of wheat. According to a notification issued by the Federal Board of Revenue on Tuesday, the duty has been abolished under the amendment to section 18(ii) of the Regulatory Duty Custom Act 1969. The government has already issued permits for the import of 700,000 metric tons of wheat. On Monday, the Food Security Ministry had warned of shortage of 1.5 million metric tons of wheat in the country. Owing to the shortage, the government will have to import wheat. According to a summary sent by the Ministry of Food Security to the federal government, permits for the import of 700,000 metric tons of wheat will be issued in the second phase. According to the estimate by the Food Security Ministry, the per ton price of wheat imported from Canada and America will US$257. Its cost at Karachi Port will be Rs 1,929 per maund. Its price at Multan Dry Port will be Rs2,029 per 40kg.