The government has increased regulatory duties in the new fiscal year on the import of essential food, non-food items and luxury goods, including up to 240% hike in import duties on mobile phones. This will help the government in getting an additional Rs27 billion in revenues.
According to a notification issued by the Federal Board of Revenue (FBR), the new regulatory duties came into force from Thursday.
The import duty on potato import sees an increase of 55% while retaining 60% regulatory duty on import of wheat and 25% on wheat flour despite being a food deficient country. The federal cabinet has largely waived off duties and taxes on the import of wheat and sugar.
The regulatory duties on the import of mobile phones has seen a whopping increase of 240%. A simple handset having just $30 value will now attract Rs300 – up by Rs135 or 82%.
Read More: Prices of imported products rise
A smartphone of even value of less than $30 and a regular phone of value between $30 but not exceeding $100 per set has been slapped with Rs3,000 per set duty – higher by Rs1,380 or 85%, according to the notification.
The mobile set of $100 to $200 will attract Rs7,500 duties – up by Rs5,070 or 208% – the second highest increase for a set normally used by middle income groups. The set having value above $200 to $350 will attract Rs11,000 duty – an increase of Rs7,760.