Govt Increases Custom Values on Import of Iron and Steel Scrap
In this connection, the directorate has issued a valuation ruling, here on Thursday.
According to the ruling, in the exercise of the powers conferred under Section 2S-A of the Customs Act, 1969, the Customs values of Iron and Steel Scrap (remeltable/HMS scrap/shredded scrap/re-rollable scrap and compressor scrap) are determined.
Background of the valuation issue revealed that earlier, the customs values of iron and steel scrap were determined to vide Valuation Ruling No 1455/2020.
Numbers of representations were received wherein, it was contended that the values fixed in valuation ruling using problems to importers at the clearance stage because the international market varies with demand and supply factor.
ISLAMABAD: A parliamentary committee on Monday recommended changes to the import policy to facilitate persons with disabilities to import duty-free cars.
The subcommittee of National Assembly Special Committee on Persons with Disabilities met at Parliament House with MNA Munaza Hassan in the chair.
The committee said special persons should be allowed to use their cars for commercial purposes like engaging them with private companies to earn livelihood.
The meeting also called for relaxation to the policy to import eight-year-old cars by persons with disabilities. The committee members said there should be no bar on special persons to use the imported cars personally. They should also be allowed to get vehicles for their attendees.
Royal Enfield bikes may hit Dhaka roads soon
Ifad Autos signs primary deal with the manufacturer
Bikers in Bangladesh are one step closer to ride a high-capacity motorcycle after Ifad Autos signed a memorandum of understanding with British-bred Royal Enfield to import the famous two-wheelers.
Founded in 1955, Royal Enfield is one of the world s oldest two-wheeler brands still in operation. Since 1994, it has been owned by India s Eicher Group.
Ifad Autos will market the bikes of Royal Enfield, said Taskeen Ahmed, managing director of Ifad Autos.
The local company is the distributor of India s TVS-branded three-wheelers and the commercial vehicles of Ashok Leyland.
Empowering provinces to import arms opposed
NOC condition mooted to serve purpose of end user certificate
ISLAMABAD:
The Federal Board of Revenue (FBR) and Ministry of Interior (MoI) including the cabinet members have opposed transferring powers from federal to provincial governments to grant permission for the import of arms and ammunitions.
The Ministry of Commerce (MoC) noted that during an inter-ministerial meeting on May 7, 2020 attended by the representatives of Ministries of Commerce and Interior, FBR and Nadra, it was proposed that SRO 772(1)/2018 may be amended by adding the condition that import of arms and ammunition would also be subjected to NOC from the MoI for licence holders belonging to Islamabad, Gilgit-Baltistan (G-B) and Azad Jammu and Kashmir (AJK) and from the provincial home departments concerned for licence holders belonging to the respective province.