Wednesday, 20 March 2013
The prices of black tea surged between Rs 50 and Rs 100 per kilogram on the back of the government's decision to withdraw the relaxation of 11 percent sales tax on imports, market sources told us on Tuesday.
"The government has withdrawn its pervious decision of (charging) 5 percent sales tax on black tea imports, reverting back to the standard rate of 16 percent which has badly hit the tea prices in the local market," blenders and importers told this…
October 18, 2012: The documented sector has lost around 60 percent of the domestic black tea market to smugglers that bring it in Pakistan through the Afghan Transit Trade, causing the exchequer an annual loss of Rs 12 billion in import levies. One wonders why such a huge quantity of black tea through ATT is allowed when the population of Afghanistan is hardly 25 million.
Perhaps the government had also kept in mind to provide relief in prices which starts from July 22 this year. Customs…