ByThe Federal Government of Pakistan has issued S.R.O. 78(1)/2025 on January 30, 2025, under the powers granted by sub-section (3) of section 18 of the Customs Act, 1969 (IV of 1969). This notification introduces amendments to S.R.O. 928(I)/2024, which was previously issued on June 30, 2024.
Key Amendments Introduced
The primary change involves an extension of existing customs duty rates on specified goods. The modifications are as follows:
- For Serial Nos. 341, 343, 344, 345, 346, 347, 348, 349, and 350 in the relevant table, the previously notified customs duty rate of 10%, which was set to expire on December 31, 2024, has been extended until March 31, 2025. Additionally, the subsequent reduction to 5%, which was earlier scheduled to take effect from January 1, 2025, will now be implemented from April 1, 2025.
- For Serial Nos. 357 and 358, the 5% customs duty that was applicable until December 31, 2024, has now been extended to remain effective until March 31, 2025.
Implications of the Amendments
The extension of the 10% customs duty on specific goods till March 31, 2025, instead of the earlier cutoff of December 31, 2024, indicates a policy decision to maintain revenue streams and regulate imports for a longer duration. Similarly, the extension of the 5% duty for Serial Nos. 357 and 358 suggests a calculated approach to fiscal adjustments in the first quarter of 2025.
These amendments are likely to impact importers, traders, and industries reliant on the affected goods, as they will now have to bear the higher duty rates for an additional three months. Stakeholders must adjust their import plans and financial projections accordingly.
This notification reflects the government’s ongoing efforts to manage import duties strategically, balancing economic policy goals with revenue generation needs.
