The Federal Board of Revenue (FBR) has abolished customs duty on import of cotton yarn with certain specifications (other than sewing thread) by genuine importers/manufacturers. In this connection, the FBR has issued a notification here on Saturday.
According to the notification, zero-percent customs duty would be applicable on the import of cotton yarn (other than sewing thread), containing 85 percent or more by weight of cotton, not put up for retail sale. No duty would be charged on the import of cotton yarn (other than sewing thread), containing less than 85 percent by weight of cotton, not put up for retail sale.