NBR cuts import duty on onion, potato

The National Board of Revenue (NBR) has slashed duty on import of onions, potatoes, and pesticides.

The decision was taken on Thursday in an effort to control its prices in the local market.

According to an official release, the tax reductions for potatoes and onion will remain in effect until 30 November next.

The customs wing has issued three separate gazette notifications in this regard.

The NBR has waived the 5.0 per cent regulatory duty on onion imports, reduced customs duty from 25 per cent to 15 per cent for import of potatoes, and set a 5.0 per cent customs duty on pesticide imports.

Such decision came following requests from the stakeholders and relevant ministries, considering the impact of flood and supply chain disruptions caused by students’ movement.

The NBR is dedicated to supporting farmers with long-term fiscal incentives.