The government, in order to reduce the prices of essential commodities across the country, has removed regulatory duties on the import of wheat and sugar, according to the Federal Board of Revenue.
Regulatory duty of 60% has been removed from the import of wheat for 36 days, according to a notification. “The notification shall remain in force till March 31, 2020,” it states.
The decision of duty-free import of wheat for five weeks has been taken to keep prices of the locally produced wheat stable.
The FBR also issued a notification for the removal of 40% duty on sugar prices. It was aimed to facilitate the import of 300,000 tonnes of sugar by the private sector.
People, however, have complained that even though multiple actions have taken by the government to curtail prices, the commodities are still being sold at higher prices in the local markets.
The price of a kilogramme of fine flour in Karachi has increased from Rs55 to Rs56. The price of sugar in the wholesale market is Rs73, whereas retail prices of the commodity are between Rs78 and Rs80.