TDS Desk:

To stabilise the supply of essential commodities, the National Board of Revenue (NBR) has reduced tariffs on the import of onions, potatoes, and pesticides.

“Important stakeholders and the concerned ministry have requested the National Board of Revenue to take measures to reduce the prices of essential commodities like pesticides, potatoes, and onions,” reads a statement released by NBR Thursday (5 September).

Under the new tariff structure, the 5% regulatory duty on onions has been halved. Previously, onion imports were subject to a combined 10% tax, including customs and regulatory duties.

For potatoes, the NBR has reduced the overall tax burden from 33% to 20%, cutting the 25% customs duty and 3% regulatory duty by a total of 13%. Potatoes were also subject to a 5% Advance Income Tax (AIT), which remains unchanged.

In the case of pesticides, the customs duty has been significantly reduced from 25% to 5%, further easing the cost of these essential agricultural inputs.

The NBR hopes these reductions will help normalise supply and bring down market prices for these essential goods, benefiting both consumers and farmers in the long run.