The Engineering Development Board (EDB) has warned industrial units to apply for registration of their products in the list of locally manufactured goods (CGO-10/2003) on or before the deadline by November 15, 2005, otherwise they would lose the opportunity of tariff protection granted by the government to their products.
The Board has expressed concern on lukewarm response from industry to its campaign of registration started in the beginning of the last month under Custom General Order (CGO-10/2003).
It said that not only the new industrial units had failed largely to apply, rather the already registered companies, requested to apply afresh had not responded, says a press release of EDB issued here on Sunday.
EDB had started a media campaign last month to attract the attention of industrial units. The last date of registration was fixed at October 31, 2005, which was extended to the middle of this month due to poor response.
CBR requires the list of locally manufactured goods for deciding exemptions and concessions on inputs to encourage the local industry and protect its products against imported products. Naturally, the facility would be withdrawn if the industrial units failed to register their products. The exemptions and concessions from payment of customs duty, sales tax, income and withholding taxes are provided on imports of goods if the same are not manufactured locally, the press release said.
The present concessions would automatically cease if fresh applications are not made on EDB web-site www.engineeringpakistan.com, the press release said.-PR
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