10pc regulatory duty on petrol from June 30: FBR


ISLAMABAD: The Federal Board of Revenue (FBR) Thursday imposed a 10% regulatory duty on the import of motor spirit — a transparent, petroleum-derived liquid that is used primarily as a fuel in internal combustion engines — from June 30, 2022. According to a notification issued by the FBR, the federal government has imposed regulatory duty at a rate of 10% on the import of motor spirit with the stipulation that the regulatory duty shall not be levied on cargoes for which letter of credit (LCs) had already been opened or were at high seas.