Tuesday Dec 28, 2021
Ministry of Finance Spokesperson Muzzammil Aslam on Tuesday said the government would not impose any taxes in the upcoming mini-budget on items used by the common man.
Speaking on Geo News’ programme “Geo Pakistan”, Aslam said that rising prices in the international market has widened the current account deficit, while COVID-19 increased the debt burden on many countries.
“Inflation is rising throughout the world but we are trying to control it,” he said, adding that the government has brought down the prices of food and beverages locally in the last six months; however, the price of imported goods has increased.
The spokesperson said that no burden has been imposed on the common man in the mini-budget, no new tax is being imposed and no tax will be levied on anything used by the common man.
According to a report published in The News, the government will withdraw General Sales Tax (GST) exemptions and slap a standard rate of 17% on import of mobile phones, computers, silver/gold, different articles of jewellery, re-meltable scrap, LPG and many other products.
Sales tax could be imposed on the import of live animals and live poultry; meat of bovine animals, sheep, and goat; fish and crustaceans; eggs including eggs for hatching; live plants including bulbs, roots, and the like; edible vegetables including roots and tubers; pulses; and edible fruits.
It could also be imposed on red chillies, excluding those sold in retail packing bearing brand names and trademarks; ginger excluding those sold in retail packing bearing brand names and trademarks; turmeric excluding those sold in retail packing bearing brand names and trademarks; cereals and products of the milling industry; seeds, fruit, and spores of a kind used for sowing; Cinchona bark and sugar cane.