ECC approves clearance of imported vehicles on verified foreign currency payment

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved clearance of imported vehicles under different schemes only through payment in foreign exchange.
The ECC chaired by Finance Minister Asad Umar approved proposal of the commerce division that duty and taxes on all imported vehicles in new/used condition under personal baggage or gift scheme, would be paid out of foreign exchange arranged by Pakistan Nationals themselves or local recipient supported by bank encashment certificate showing conversion of foreign remittance to local currency.
The committee also approved regulatory amendments in the Export Policy Order 2016 and Import Policy Order 2016 as proposed by Commerce Division aimed at increasing ease of doing business.
ECC accorded approval for withdrawal of customs duty, additional customs duty and sales tax on import of cotton effective February 01 till June 30, 2019 to ensure sufficient supply of cotton for the industry.

1 Comment

  1. We appreciate PTI government policy regarding at import SRO 52-1 but please give us 15 Days Notice period for Clearing cars which are booked with shipping g company before 15th January but shipment from Japan is 25th January 2019.
    Immedae policy can disturb may families life interns of Financial crises
    So government should give time line just like they gave timeline for cotton Import.

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