NBR allows partial exporters to import duty-free raw materials against bank guarantee

In a bid to expand export trade, the National Board of Revenue (NBR has allowed partial export-oriented industrial units to import raw materials duty-free against a bank guarantee, according to a statement Monday.

According to a notice issued on Thursday (September 25), exporters who are unable to obtain a bonded warehouse licence under existing bond management conditions can now import raw materials or goods without paying customs duties. To avail of this duty-free facility, importing companies must submit a bank guarantee equivalent to the customs duties assessed by the authorities on the imported items.

The NBR expects that allowing duty-free imports even without a bond licence will help export-oriented industries maximise their production capacity, diversify exportable products, and ultimately contribute to the expansion of the country’s export trade.