The import tariff on rice has beencslashed to 25 % from 62.5% an official announcement said on Thursday.
The change would be made effective from October 30 next.
The National Board of Revenue (NBR) issued a gazette notification in this regard.
According to the notification, rice importers have to pay 5% Advanced Tax (AT) and 5% Advanced Income Tax (AIT) in addition to a 15% customs duty.
However, it will only be applicable to the imports of boiled and unboiled Atap rice.
Previously, the revenue authority had also reduced the tariffs to 25% last year in a bid to control the price hike by encouraging imports, but that facility was only valid till April this year.