Import tariffs on LNG to go
The National Board of Revenue is going to waive import tariffs on liquefied natural gas (LNG) to enable industries to bring down their costs, said officials.
Under the scheme, 5 percent customs duty and 5 percent advance trade VAT will be withdrawn at the import stage alongside a 93.24 percent supplementary duty.
Both of the NBR's customs and VAT wings are working to issue related statutory regulatory orders. “We are going to issue notifications in this regard soon,” said a senior NBR official.
The move comes in line with a previous decision of government high-ups to cut import costs of LNG, the first shipment of which arrived at April's end to mainly meet the demand for energy at industrial units.
The official said only 15 percent VAT on import and 15 percent on distribution of LNG would remain effective.
