Import Tax on wheat increased to 25%
Posted on: 21/Oct/2015 10:47:46 AM
The central government has announced that import tax on wheat is raised from 10% to 25%.
A press release from the ministry of finance of the central government informs that this increase is to prevent of additional import of wheat as the wheat prices are falling in the international market.
If extra quantities of wheat are imported because of the fall in prices in the international market, the local farmers and traders would be affected a great deal. Hence, it was decided to increase the import tax on wheat. The central ministry of agriculture had been pressing the demand to increase the import tax on wheat in order to restrict the quantity of import.
