Notification for Minimum Indicative price of Tobacco approved for FY20

By MG News | July 17, 2019 at 06:50 PM GMT+05:00

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July 17, 2019 (MLN): The ECC in its meeting today considered and approved the notification of Minimum Indicative Prices (MIP) of tobacco for year 2019-20.

As per section 8 of the Pakistan Tobacco Board Ordinance 1968, the MIP for different grades of various types of tobacco are to be notified by the Federal Government.

The following prices were suggested for notification:

**Suggested Prices**
S.No.	Types Of Tobacco	Minimum Indicative Price Per Kg For 2019-20 Crop
1	FCV Tobacco (Plain)	Rs.190.63
2	FCV Tobacco (Sub-Mountainous)	Rs.218.77
3	WP Tobacco	Rs.82.85
4	Burley Tobacco	Rs.150.54
5	DAC Tobacco	Rs.94.76

The ECC also allowed that new PCT codes, as created in the Pakistan Customs Tariff through the Finance Act, 2019, may also be incorporated in SRO 693(I)/2006 dated 01.07.2006 so that levy of additional customs duty collected on those parts of Sport Utility Vehicles (SUVs) of engine capacities 1001cc to 1500cc and 1501cc to 1800cc which have been localized, may be appropriately accounted for under separate PCT codes.

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