The Ministry of Food Security has abolished the duty on wheat imports for the private sector as 60% regulatory duty and 11% customs duty will not be levied.
The Ministry of Food Security said in a statement that a monitoring committee has also been set up for the import of wheat. Additionally, 17% general sales tax (GST) and 6% withholding tax will also not be collected.
The country is apparently facing wheat shortage. Wheat is the most important crop as flour is a food staple in Pakistan. Federal Minister for Food Security Fakhar Imam said on the floor of the National Assembly on Friday that six million tonnes of wheat have vanished from the market. That wheat was purchased from farmers just two months ago.
The federal government has decided to approach the Sindh government for a 1.25% excise tax exemption as well.
Wheat importers will also be exempted from the Anti-Hoarding Act while the SBP will arrange interbank dollar exchange for wheat imports.
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