Exemption from Customs Duty and Sales Tax on Import of Plant and Machinery Which Is Not Manufactured

EXEMPTION FROM CUSTOMS DUTY AND SALES TAX ON IMPORT OF PLANT AND MACHINERY WHICH IS NOT MANUFACTURED LOCALLY, IF IMPORTED FOR INITIAL INSTALLATION OR FOR BALANCING, MODERNIZATION, REPLACEMENT OR EXTENSION OF THE PROJECTS APPROVED BY THE GOVERNMENT IN THE SPECIFIC AREAS. 63Notification No. S.R.O. 983(I)/89, dated 27th September, 1989.--In exercise of the power conferred by section 19 of the Customs Act, 1969 (IV of 1969), and section 7 of the Sales Tax Act, 1951 (III of 1951), the Federal Government is pleased to exempt plant and machinery which are not manufactured locally and are imported for initial installation or for balancing, modernization, replacement or extension of the projects approved by the Government for installation in the areas specified in the SRO 500(I)/84, dated 14th June, 1984 from so much of the Customs duties leviable thereon as are in excess of the extent specified in the SRO 500(I)/84, dated 14th June, 1984 and whole of the sales tax, provided the letters of credit for import of plant and machinery have been established on or before 30th June, 1989 and no alteration or addendum has been made therein respect of quality, quantity or number of such plant and machinery.. 63. Reported as PTCL 1990 St. 82 (i)