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| Image Source - Google | Image by - techjuice |
Another major stride forward by the Pakistan Tehreek-e-Insaf (PTI) government, another major relief for the public of Pakistan
The majority of things will be more expensive, the 5% sales
tax refund will be eliminated, the 17 percent will be waived, and food items
will be exempt.
Fuel prices in
Pakistan would be decreased in the next weeks, according to Finance Advisor
Shaukat Tareen. Will not be asked in an interview Customs duty on imported
make-up goods, garments, shoes, and perfumes, as well as other imported luxury
items and pleasures, will be increased in the mini-budget, according to Shaukat
Tareen, who also added that a 5% rebate on some locally manufactured items will
be eliminated. The sales tax rate will be raised from 12% to 17%, making most things
more expensive.
According to Finance
Advisor, once the worldwide market fell, petrol costs have not fallen down yet.
In the next weeks, though, Pakistan's petrol costs will be cut. Next Monday,
the mini-budget will be introduced in Parliament alongside the bill for
legislation on SBP sovereignty that was agreed upon with the IMF.
Conclusion:
The finance minister promised to reduce the price of petrol.
It remains to be seen whether the PTI government will prove this point or
whether it will prove to be a turning point in the days to come.
The announcement of an increase in other items and taxes is
nothing new. Because the PTI government wants to set a record by having the
honor of being the most expensive government in the history of Pakistan and the
second World Cup will be named after him due to the rise in inflation.