The Ministry of Petroleum and Natural Resources is likely to move a summary to the Economic Co-ordination Committee (ECC) for exemption of custom duty on import of machinery and equipment for the mining sector as the Central Board of Revenue has turned down the request of the Ministry in this regard.
Official sources in the Ministry told Business Recorder here on Wednesday that a Chinese company, Shanhua Corporation, has requested the government of Pakistan for exemption of custom duty on import of machinery and equipment for Thar coal projects as Central Board of Revenue rules do not provide exemption of custom duty to the companies working in mineral sector like that given to companies in oil and gas sector.
Sources said that under mineral policy the government has levied custom duty @ 5 percent on the import of machinery and equipment for the mineral sector projects by the local as well international companies while they were exempted from the sales tax.
When the Ministry of Petroleum asked CBR for exemption on machinery and equipment for the mineral sector it refused to allow exemption, saying that there is pressure on it from the donor agencies for not allowing exemption, source added.
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