ISLAMABAD – The Pakistan Tehreek-e-Insaf-led on Monday proposed an increase in tax on expensive mobile, phones, tobacco, and other luxury items to arrest the widening budget deficit.
Finance Minister Asad Umar put forward the amendments to Finance Bill during a session of the National Assembly after these were approved by the federal cabinet.
Umar highlighted that the budget deficit is currently at 6.6 percent and it could surge to 7.2% if tough measures were not taken.
https://en.dailypakistan.com.pk/headline/asad-umar-presents-supplementary-finance-bill-paints-bleak-economic-picture/
Amid other proposals, the finance minister said that the tax on tobacco would be raised which would ultimately affect the price of cigarettes.
He said that taxes on the expensive mobile phones would also be increased, adding that the duty tax on 18,000 cc cars would be 20 percent.
The proposed amendments will be approved by the National Assembly in another session.
