To encourage investment in pharmaceutical sector, the Central Board of Revenue (CBR) has decided to apply 10 percent concessional rate of customs duty on the import of a raw material, ie, AmylopectinHydrolysate Polly Starch. The CBR has amended SRO. 372(I)/2002 through SRO(I)/2005 issued here on Friday. The notification has been amended several times on the recommendations of the pharmaceutical industry. Now, the items falling under Pakistan Custom Tariff (PCT) heading 3505.1090 will be liable to concessionary rate of duty.

FOLLOWING IS THE TEXT OF THE NOTIFICATION ISSUED ON FRIDAY: "In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), the Federal Government is pleased to direct that the following further amendments shall be made in its Notification No SRO (372)I/2002, dated 15th June, 2002 namely:-

"In the aforesaid Notification, in Table-II, in List A.

"Against Si.NO.68 in column (1) in column (2), for the words "Lucryl amidoletaine" the words "Lauryl Amidobetaine" shall be substituted, and

"After S.No 75 in column (1), and the entries relating thereto in columns (2) and (3), the following new serial number and the entries relating thereto shall be inserted, namely;-

"75A. O-2(Hydroxyethyl) Amylopectin 3505.1090".

Hydrolysate Polly (O-2 Hydroxyethyl) Starch.

Copyright Business Recorder, 2005