Islamabad: It has been revealed that the federal government granted tax exemptions amounting to Rs. 49.75 trillion over the past two fiscal years, providing extensive relief across multiple sectors.
According to sources, during the fiscal years 2022-23 and 2023-24, the federal government allowed income tax exemptions worth Rs10.22 trillion to various sectors, while large investors received Rs2,757 billion in sales tax exemptions.
Similarly, exemptions worth Rs1,195 billion were granted in customs duties over the two years. The energy and mining sector received Rs103.47 billion in relief, while housing and public development authorities were given Rs432.8 million. The education sector received Rs17 billion in tax exemptions, and the information technology sector was granted Rs5.86 billion.
In addition, the health and pharmaceutical sector received Rs3.49 billion in relief during the fiscal years 2022-23 and 2023-24. The fertilizer and agriculture sectors were granted Rs 457.92 billion in sales tax exemptions, while power generation companies received Rs 5.77 billion in sales tax relief. Furthermore, the health and medical equipment sector was given tax exemptions amounting to Rs313.66 billion.
