Exemption from customs duty on vehicles imported by Exploration Companies.

GOVERNMENT OF PAKISTAN MINISTRY OF FINANCE AND ECONOMIC AFFAIRS Islamabad, the 29th June,1998 NOTIFICATION (CUSTOMS) S.R.O.749(I)/98.- In exercise of the powers conferred by section 19 of the Customs Act,1969(IV of 1969), 1[omitted] the Federal Government is pleased to exempt motor vehicles (pajero, toyota land cruiser etc.) , the number of which have been mentioned in column(2) of the table below, imported by Exploration and Production Companies and Service Companies as mentioned in S.R.O.367(I)/94, dated the 9th May,1994, and S.R.O.400(I)/97, dated the 31st May,1997, from so much of the customs duties 1[as are] in excess of the rates specified in column (3) 1[omitted)of the said table, subject to the conditions given below:- Conditions. (i) Life of the vehicle shall be five years unless sooner it is damaged to the extent that it cannot be used; and (ii) For claiming replacement of any vehicle the vehicle required to be replaced shall be surrendered to the customs authority free of cost. TABLE S.No. Distribution Amount of Customs-duties -------------------------------------------------------------------------------------------------------------------------------------------- (1) (2) (3) -------------------------------------------------------------------------------------------------------------------------------------------- 1&2[1. Exploration and Production Companies. (a) First two vehicles Free (b) Third vehicle 10% ad val. (c) Fourth vehicle 25% ad val. 2. Service Companies. (a) First one vehicle Free (b) Second vehicle 10% ad val.] --------------------------------------------------------------------------------------------------------------------------------------- [C.No.6/7/Mach./96.] ( KHALIL MASOOD ) Additional Secretary As amended 1. Inserted vide S.R.O.984(I)/99, dated 30.08.1999 2. Substituted vide S.R.O.1354(I)/99,dated 16.12.1999