HIGHLIGHTS

• Customs duty on import of plant, machinery and equipment not manufactured locally reduced to 5%.
• Customs duty on import of industrial raw materials rationalized.
• Requirement for filling of indemnity bonds & installation certificates withdrawn.
• Duty rationalized on smuggling-prone items.
• Incentive package for agricultural sector introduced.
• Duty structure of auto sector rationalized.
• Clauses relating to surveys removed.
• Incentives given to the energy sector.
• Duty concessions on imports relating to disabled persons made.
• Concession for hospitals, educational institutions made.
• Customs Dispute Resolution mechanism in the Customs Act, 1969 introduced.
• The rate of penal surcharge of warehousing reduced from 2% to 1%.
• Incentives given to the specific sector like airline, film & cinema, energy, call centers industry.
• Duty concession given on the import of re-located projects/units.
• Fiscal incentives to the Oil Exploration and Production sector introduced.
• Scopes of concessions for local manufacture of machinery broaden.
• Incentive package for overseas Pakistanis – Baggage rules introduced.