Business

ISLAMABAD: Minister for Finance and Revenue Ishaq Dar on Friday proposed a reduction in the custom duty for imported fish feed pellet machines and water aerators from 5 percent to 2 percent.

While presenting the Fiscal Year 2016/17 Federal Budget in Parliament, he said that fish feed had in the past been slapped with a 10 percent customs duty whereas shrimp feed was charged at 20 percent. He added that the duty on the import of fish and shrimp feed would be dropped in the current fiscal year, beginning from June 1, 2016.

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Similarly, the Minister said that the previous 10 percent customs duty on live baby fish would also be removed in the current fiscal year.