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SROs for essential commodities, pharmaceuticals to be retained

SROs for essential commodities, pharmaceuticals to be retained

ISLAMABAD: As per requirements under the IMF’s Extended Fund Facility the government will withdraw all the concessionary SROs in the next two fiscal years that provide exemptions to various sectors except those pertaining to essential commodities including pharmaceuticals, it is learnt.

The concessionary or exemption SROs pertaining to sales tax and customs duty would be rescinded under the plan. However, if the SRO contains essential commodities and items, the location of the items or commodities would be changed from sales tax SRO to Sixth Schedule of the Sales Tax Act, 1990.