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Imposition of regulatory duty on iron imports challenged in SHC

Imposition of regulatory duty on iron imports challenged in SHC

KARACHI: A large number of the importers of iron and steel products have approached the Sindh High Court against imposition of regulatory duty on imports of iron and steel from China.

The Pakistan Welding Electrodes Limited and Izhar Steel are among the litigants who have gone to the court challenging the federal government’s notification regarding imposition of regulatory duty on some iron and steel products.

Naming the finance secretary, Federal Board of Revenue’s chairman, chief collector custom as respondents the petitioners stated that Pakistan and China had entered into a Free Trade Agreement for import of steel and iron products and subsequently a notification was issued exempting regulatory duty on imports.

However, they said, the federal government had issued a notification in June 2015 whereby it abolished the exemption. They argued that the material they import from China comes within scope of FTA and therefore, the imposition of regulatory duty was illegal and unlawful.

The petitioners prayed to the Court to declare as illegal the notification regarding imposition of regulatory duty and direct the respondents to withdraw the same.