Mini budget

Mini budget proposal to increase the tax on mobile phones, cigarettes, cold drinks
Common consumption items including wheat, rice and pulses will not be taxe, tax on luxury items has been increase from 17% to 25%, said Finance Minister Ishaq Dar.



Presenting the mini budget in the National Assembly, it has been decide to increase the tax on mobile phones. It is propose to increase the tax on cigarettes, juices and cold drinks, and other common items including wheat, rice and pulses will not be taxes. .



According to the details, the National Assembly meeting was held under the chairmanship of Speaker Raja Pervez Sharaf, Finance Minister Ishaq Dar presented the Finance Supplementary Bill 2023 in the National Assembly.

Government agreement

It is propose to impose advance tax on marriage halls and hotels, it is also propose to impose advance tax on commercial lawn and marquee. The finance minister said that the country’s debt increased significantly in the 4 years of PTI, the debt increased by 26 billion dollars due to poor policies during the PTI era.

The GDP increased by 112 billion dollars during the PML-N period. The IMF agreement is not a government agreement but a state agreement.



In 2018, during the PML-N era, Pakistan had become the 24th economy in the world. He said that 40 billion rupees are being allocate for the Benazir Income Sport Program. The budget of the Benazir Income Sport Program is being increase from 360 billion to 400 billion rupees. In the Kisan package, 1819 billion rupees have been set aside for June 2023. Cabinet will reduce its expenses and Prime Minister Shehbaz Sharif will also save.

Cigarettes

He said that it has been decide to bring a farmer package worth 2 thousand billion rupees. The federal excise duty on cement has been reduce to 2 rupees per kilogram. The rate of federal excise duty on cigarettes is being increase. 10 percent on the bills of marriage ceremonies.



Withholding tax has been impose, 20% tax has been impose on air tickets. Tax on luxury items has been increase from 17% to 25%, advance tax is also being impose on aviation tax. The Finance Minister said that the IMF program will increase foreign exchange reserves. Our measures will stabilize prices and increase income.