The implementation of the Finance Bill for the next financial year 2021-22 will begin from today. According to the measures taken by the government, the prices of imported and luxury goods will increase.

The prices of imported make-up, shampoos, perfumes, soaps and lotions will increase. In addition to this, prices of imported butter, jam,jelly, ketchup, flavored country and cheese are also set to increase.

The prices of imported food for domestic animals like dogs, cats, parrots, and horses will also increase. The duty on imported stationery has been increased by 10%. Furthermore, the duty on imported tyres has been increased by 5% to 10%.

Sales tax on imported bicycles to increase by 17%. The raw material used in making matches will also get expensive. The customs duty on import of hybrid vehicle parts increased to 4%. The duty on the paper used in the publication of the Holy Quran has been scraped.

Read More: Finance bill to provide tax relief of Rs80bn, allows arrests for tax evasion

On Wednesday, the government has approved a Rs2 increase in the price of petrol, dismissing OGRA’s recommendation of a Rs6.05 hike.

Special Assistant to Prime Minister (SAPM) on Political Communication Shahbaz Gill tweeted about this development.

Gill said that the Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs6.05, but Prime Minister Imran Khan rejected it, instead approving an increase of Rs2 per litre for petrol.

The premier’s aide said that the recommended increase by OGRA was in accordance with a rise in fuel prices in the international market.


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