ECC likely to approve reduction in customs duties for chemical, mineral sector: Razak Dawood

October 09, 2020 (MLN): Ministry of Commerce has expressed hope that the second round of reduction in Additional Customs Duties (ACDs) and Regular Duties (RDs) on another 150 lines of items, in the chemicals and minerals sector, since July 2020, will be approved by the ECC in the month of October 2020.

Taking his twitter handle, Advisor to PM for Commerce and Investment, Abdul Razak Dawood said the National Tariff Policy Board met yesterday in which the next round of reduction in ACDs and RDs was proposed.

He said, ‘After this, the sectors of engineering and food processing will be examined and any areas with glaring anomalies, where raw materials have been wrongly classified, will be reviewed.’

‘The Board also looked at the complete chain of plastics. All those involved in this line of business are requested to come forward with their suggestions as this is a very important line for our 3-year roadmap of tariff rationalization’, he concluded.

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