ISLAMABAD (August 30 2008): Finance Minister Naveed Qamar has said that imports of Chinese goods under Free Trade Agreement (FTA) would not be liable to regulatory duty (RD), recently imposed on luxury items. On conclusion of the launching ceremony of E-Services on Friday, he told reporters that importers of Chinese goods could not raise prices of imported goods on the plea of imposition of RD on luxury items.

    The items imported from China are covered under FTA, and regulatory duty could not be imposed on the items covered by such trade agreements. The imposition of RD on luxury goods would only affect persons who prefer to purchase foreign goods.

    The items specified in the list for levying RD are out of the range of poor people. About the position of revenue collection target under current circumstances, he said that the FBR has shown growth in July and August and the it would be able to successfully surpass the target fixed for 2008-09.