The interim government has slashed import duties on onions, potatoes, and certain pesticides as part of its economic measures following the August uprising and its ensuing disruptions.
The move aims to ease market conditions and stabilise prices amid ongoing domestic and international economic pressures, said a press release issued by the National Board of Revenue (NBR) on Thursday (4 September).
"In response to the upheaval and the consequent disruption in supply chains, the authorities have reduced the import duty on pesticides from 25% to 5%, as per SRO No. 305-Law/2024/Customs. This adjustment is intended to facilitate easier access to agricultural inputs and support the agricultural sector," it added.
Furthermore, the import duty on potatoes has been decreased from 25% to 15%, with an additional 3% import duty on the entire consignment of goods, as detailed in SRO.
Reduction in import duty on onions is similarly notable, with the new rate set at 5%.
These changes are part of a broader strategy to mitigate the economic impact of the recent political upheaval and to ensure that domestic markets remain stable and accessible.
Interim government hopes that by reducing these duties, the local producers will benefit, and the overall consumer prices will be more manageable.
NBR has underscored its commitment to maintaining stability in the market and supporting local farmers through these adjustments, with further plans to review and amend policies as needed to ensure continued economic resilience.
