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Budget 2024-25: Proposal to impose 18% tax on infant formula milk rejected

02:46 PM | 22 Jun, 2024
Budget 2024-25: Proposal to impose 18% tax on infant formula milk rejected
Source: File Photo

ISLAMABAD – The Senate Standing Committee on Finance has rejected the proposal to impose an 18 percent sales tax on infant formula milk.

The proposal for imposition of the 18% GST was laid forth in the budget for next fiscal year 2024-25 and it has been widely decried by public.

Senator Saleem Mandviwalla chaired the meeting of the standing committee in Islamabad where lawmakers raised voice against the imposition of the further tax on the infant milk.

Senator Sherry Rehman called the proposal regarding increasing tax on milk an injustice, adding that no consultation was held by the government with her party on this matter. Senator Anusha Rehman said that this proposal is unjust.

Later, the committee rejected the proposal to impose an 18% sales tax on children's milk.

Speaking on the occasion, Senator Farooq H. Naik said that taxes should be abolished on stationery items.

“Taxes are being levied on everything, even on graves in Karachi,” he made a taunt.

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US Dollar, Euro, Pound, Dirham, Riyal Rate in Pakistan Today Open Market Rates - 15 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 15, 2024 (Monday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.8 for buying and 280.75 for selling. Euro's buying rate moves up to 301.25 and selling rate is 303.15.

British Pound rate is 355.15 for buying, and 358.65 for selling. UAE Dirham AED was at 76.5 and Saudi Riyal lowered to 73.65.

Currency Rates Today

Source: Forex Association of Pakistan. (last update 08:00 AM)       
Currency Symbol Buying Selling
US Dollar USD 279.8 280.75
Euro EUR 301.25 303.15
UK Pound Sterling GBP 355.15 358.65
U.A.E Dirham AED 76.5 77.25
Saudi Riyal SAR 73.65 74.37
Australian Dollar AUD 184.55 186.35
Bahrain Dinar BHD 741 749
Canadian Dollar CAD 203.75 205.75
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 309.15 311.65
Thai Bhat THB 7.5 7.65



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