ISLAMABAD; The Federal Board of Revenue (FBR) on Thursday issued a notification for EXEMPTION of sales tax and import duty on imported sugar. The decision to exempt imported sugar from 17 percent sales tax and import duty has been taken to tackle rising prices of the commodity. The FBR notification of August 20, 2020 said the Trading Corporation of Pakistan (TCP) has already been asked by the government to import 0.3 million tons sugar and it had opened bids of interested parties for sugar import of sugar on August 18, 2020. The opening of bids indicated high prices of the commodity in the international market, which ultimately could push-up the prices in the domestic market. Sugar prices are already at the highest level in the country (Rs 100 a kg) and are bringing huge criticism to the Pakistan Tehrik Insaf (PTI) government.
