ISLAMABAD – The government of Pakistan imposed aggressive taxation in this year's budget, leading to a significant rise in the prices of electronic items like Air Conditioners, Refrigerators, LED TVs and others.
The stern measures were taken as part of government's efforts to meet demands of the International Monetary Fund (IMF) to stabilize the country's deteriorating economy.
The budget 2024-25 includes increased taxation on a range of electronic goods. These new taxes are aimed at boosting government revenue and addressing the country's economic challenges.
Prices of electronic items after Budget 2024
The cost of LED TVs saw up to Rs5000-6000 increase, while price of 1Ton AC saw substantial price increase, with new rate standing at Rs85,000.
With the new taxes, the cost of smartphones has also increased substantially, making it more expensive for consumers to purchase new models or upgrade their existing devices.
Rates of laptops and desktop computers have also surged, impacting students, professionals, and businesses. Also, cameras, audio equipment, and other consumer electronics have seen price hikes.
The government termed these measures necessary for long-term stability, but sudden rise in electronic items will affect business in coming months.
https://en.dailypakistan.com.pk/01-Jul-2024/pakistan-slaps-new-taxes-on-dual-nationals-and-tech-companies-in-budget-2024-25