Islamabad: In the budget presented by the PTI government, Tetra Pack milk, packaged yogurt, processed butter and cheese, branded clothing, and cars are expected to become expensive.
According to details, Finance Minister Ishaq Dar presented a budget of Rs. 144.6 billion for the fiscal year 24-2023 in the National Assembly.
The federal budget has increased the tax rate in various sectors, leading to an increase in the prices of certain items. Details regarding which items have become expensive have come to light.
After the imposition of a 5% sales tax on various sectors, Tetra Pack milk, packaged yogurt, processed butter, and cheese will become expensive. Additionally, there will be an increase in the prices of canned fish, packaged chicken, and egg packets.
Branded clothing will also become more expensive as there is a proposal to increase the GST rate from 12% to 15% for retailers of branded textiles and leader manufacturers.
The budget introduces a 7% tax on cars exceeding 1,300 cc, while the duty and taxes on cars exceeding 1,300 cc have been abolished, resulting in an increase in car prices.
Special subsidies will be provided on utility stores for potatoes, ghee, rice, sugar, and pulses. Duties on solar panels, batteries, and other raw materials are also being eliminated, making solar panels cheaper. Duties on diaper manufacturing raw materials will also be waived, leading to cheaper diapers.
A sales tax of 18% has been imposed on purchasing spices, ghee, and cooking oil for hotels, while a fixed tax of 2,000 rupees has been imposed on old technology fans per fan.
