As a part of recent budgetry measures, hi-tech industry in Pakistan has been exempted from whole of customs duty as per an announcement made here on Tuesday by Central Board of Revenue.
SRO 369(I)/2000, dated June 17, 2000, allows exemption on import of process control equipment/systems; power tools, pneumatic tools; powder metallurgical industry and manufacture of alloys and stainless steel; information technology; solar technology/solar cell industry; aerospace; defence production; hermetical sealed (HS) technology; oil refining (mineral)/ hydrocracking and other value-added petroleum products.
Total exemption from customs duty has also been allowed under the SRO to the following value-added industry attaining a minimum value addition of 40 per cent of production value to be determined by Engineering Development Board, National Tariff Commission, CBR, Board of Investment, ministry of industry, or, on export of minimum average 50% of its production in the first 10 years: leather;
