Tariff concession for rice import extended till March 31

The government has extended three more months’ tariff concession on import of rice in a bid to make the staple import lucrative for the traders.

The regular duty exemption comes with a five percent regulatory duty on both boiled and Atap (non-boiled) rice until March 31, 2023, officials said. The facility was supposed to end on December 31st, this year.

The National Board of Revenue (NBR) issued a notification in this regard on Wednesday. According to the notification, a permission from a joint secretary ranked officer of the food ministry must be obtained for each import consignment to get this benefit.

At the end of June, the government had allowed the first round of rice importation. Then another notification was issued in August. But due to lack of interest in import among the traders, the government took the initiative to lessen the duty.