Govt. reinstates Customs import duty on milk powder

Friday, 14 July 2023 02:35 - - {{hitsCtrl.values.hits}}

Milk Powder Importers’ Association says move will make prices rise again

The Government has recently made changes to the Customs import duty for milk powder, imposing a new tax rate of Rs. 100 per kilogram, effective from 12 July.

Previously, an import duty of Rs. 225 per kilogram was in place for imported milk powder, but it was later removed.

However, considering the current economic circumstances, the Finance, Economic Stabilisation and National Policies Ministry has decided to re-impose the Customs import duty on milk powder. It is part of a broader economic strategy aimed at stabilising the national economy and implementing policies that align with the country’s financial goals.

The new tax revision will remain in effect until further notice, according to the Ministry.

The Milk Powder Importers’ Association noted that the prices of imported milk powder are expected to increase as a result of the tax revision. The association anticipates that the additional import tax will have an impact on the overall cost of milk powder in the market.