Amendment in S.R.O 323(I)/2010

GOVERNMENT OF PAKISTAN MINISTRY OF FINANCE, ECONOMIC AFFARIS, STATISTICS AND REVENUE (REVENUE DIVISION) **** Islamabad the 4th June, 2010 NOTIFICATION (CUSTOMS) S.R.O.388(I)/2010.- In exercise of the powers conferred by sub-section (3) of section 18 of the Customs Act, 1969 (IV of 1969), the Federal Government is pleased to direct that the following further amendments shall be made in its Notification No. S.R.O.323(I)/2010, dated the 13th May, 2010, namely:- In the aforesaid notification:- (a) the words “for sixty days” shall be omitted and after the words “effect” the words, comma and figures ”untill 26th July, 2010,” shall be inserted; (b) for the proviso the following shall be substituted, namely:- “Provided that,- (a) export of yarn against valid letter of credits (on-first-come-first-served basis) opened before the 12th May, 2010 will be allowed without regulatory duty for a maximum quantity of thirty two thousand tons. A committee in the Ministry of Textile with representatives from both sides will scrutinize all such letter of credits and issue necessary authorization letters; (b) value added yarn fetching a price of USD 3.5 per kilogram or more will be allowed without regulatory duty with a maximum quantity of two thousand tons per month to be taken from 13th May,2010; and (c) re-exports of yarn against imports of cotton under temporary importation schemes, such as DTRE, will be allowed without regulatory duty for those who were already registered to use such facilities before the 12th May, 2010. However, regulatory duty will be

imposed on the value of exports over and above the value of imported cotton.”. [C.No.5(2)EP/2010]. (Munir Qureshi) Additional Secretary