September 16, 2009
Pakistan government withdraws export tax on wheat products
The Pakistan government Tuesday (September 15) withdrew a 35 percent regulatory tax on the export of wheat products because of a surplus of the grain.
"In order to provide a level playing field to the local exporters, the Economic Coordination Committee has decided to withdraw 35 percent regulatory duty on the export of wheat products," a statement from the ministry of finance said.
The decision, which comes into effect immediately, was taken in the light of a bumper wheat harvest this year which will meet Pakistan's domestic needs and provide supplies for export.
The Economic Coordination Committee was informed that the wheat stock as of Sept. 7, 2009 was 9.216 million tonnes as against 3.458 million tonnes on the same date last year.
