Pakistan FM Ishaq Dar tabled the Finance (Supplementary) Bill 2023 in the National Assembly to generate PkR 170 billion in additional revenues in four months in order to secure the IMF bailout package
The petrol price has skyrocketed to PkR 272 per litre due to the Pakistan rupee's devaluation against the dollar, Pakistan's Finance Division said
The price of high-speed diesel has been increased to PkR 280 per litre. The price of kerosene oil was hiked to PkR 202.73 per litre. Light diesel oil is available at PkR 196.68 per litre
Sales tax on general items has been increased to 18% from 17%. The Finance Bill proposed to increase GST from 17% to 25% on 33 categories of goods covering 860 tariff lines
Sales tax on mobile phones with a value exceeding US$500 will be set at 25%, against 17% earlier
Essential items such as wheat flour, rice, egg, milk, chicken, and vegetable, were exempted from the tax hike. But due to high inflation, broiler chicken cost PkR 480 to PkR 500 per kg and milk packet costs PkR 210 per litre
The federal excise duty n expensive brands of cigarettes has gone up from PkR 6.5 per cigarette to PkR 16.5. For less expensive brands, the price per stick has been increased from PkR 2.55 to PkR 5.05
Federal Excise Duty on aerated water was increased to 20% from 13%. Federal excise duty on sugary drinks was introduced at 10% of the retail price
Federal excise duty on air travel was hiked 20% of the airfare or PKR 50,000 per ticket, whichever is higher from the earlier held PkR 50,000 per ticket
A 25% sales tax will be imposed on food imports like confectionary, jams, fish, sauces, ketchup, fruits and dry fruits, preserved fruits, cornflakes, frozen meat, juices, pasta, aerated water, ice cream, and chocolates
Items such as home appliances, cosmetics, crockery, pet food, private weapons and ammunition, shoes, chandeliers and lighting, headphones and loudspeakers, doors and window frames, automobiles and toiletries, will attract 25% sales tax