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Home Pakistan

List of items that will get expensive after mini-budget

by Nimra Azhar
February 16, 2023
in Pakistan
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List of items that will get expensive after mini-budget

List of items that will get expensive after mini-budget

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List of items that will get expensive after mini-budget

ISLAMABAD: The current government has announced a “mini-budget” to raise Rs170 billion in income, in accordance with the International Monetary Fund’s (IMF) demands to impose higher taxes on the inflation-stricken people.

For the purpose of collecting taxes totaling Rs115 billion, the Federal Board of Revenue (FBR) has issued an SRO increasing the ordinary 17% general sales tax (GST) to18%. The remaining Rs55 billion will be raised by additional measures in line with the Finance (Supplementary) Bill 2023.

The top tax collecting agency stated in the notification that a variety of things needed in daily life, including consumer packaged goods, will be subject to the 18% GST.

In addition to these actions, the government will raise the GST rate on luxuries from 17% to 25%. Federal Excise Tax (FED) would rise to Rs 20,000 or50%, whichever is higher, on business and first-class airline tickets.

Furthermore, the withholding adjustable advance income tax rate for marriage halls will be 10%. The FED will also be shifted up in regard to cement and soft, sugary drinks.

Here is the List of items that will get expensive after mini-budget

  • Edible oil
  • Biscuits
  • Jam
  • Jelly
  • Noodles
  • Children’s toys
  • Chocolates
  • Coffee
  • Make-up
  • Shampoos
  • Creams
  • Lotion
  • Soap
  • Toothpaste
  • Hair colour
  • Hair remover cream
  • Hair gel
  • Shaving foam
  • Shaving gel
  • Shaving cream
  • Shaving blades
  • Computers
  • Laptops
  • Electronic gadgets
  • Smartphones
  • iPods
  • TVs
  • LEDs
  • LCDs
  • Juicers
  • Blenders
  • Other electronic machinery
  • Car shampoos
  • Car polishes
  • Perfumes
  • Branded perfumes
Tags: Pakistan
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