For the outgoing fiscal year, the National Assembly had last year approved a Rs1.373 trillion defence budget. With the raise in the spending ceiling, the next fiscal year’s defence budget may also now be higher than the earlier estimated figure of over Rs1.55 trillion. "There is no increase in defence budget at all. Those availing the FTA exemption paid zero customs duty while others paid 10% customs duty. However, where 10% customs duty was paid on import of MS, it would be exempted from levy of regulatory duty.

Source: The Express Tribune June 05, 2022 01:30 UTC