Business

LAHORE (Web Desk) Federal Finance Minister Senator Ishaq Dar has said that no tax will be imposed on locally manufactured items which have been produced from the imported goods.


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Addressing the inaugural ceremony of Language and Computer center of Jamia Hajveria at the Data Darbar complex here on Tuesday, he said that tax had been levied on the imported items only, adding that no tax would be imposed on the products prepared from imported goods.

The Finance Minister said the revenue generated from the regulatory tax would be spent on the development projects and welfare of the masses in all the four provinces.

Ishaq Dar said prices of the daily commodities in Islamabad and other provinces had been evaluated in the daily meeting of the National Price Monitoring Committee, adding the government had instructed the National Food Security and Research Ministry to review the prices so that common man should not be affected by the price hike.

He said, 2016 would be the year of culmination of the Zarb-e-Azb. To a question, the Minister said honorable return of the Internally Displaced Persons (IDPs) to their homes was the top priority of the government.

Earlier, Federal Finance Minister Senator Ishaq Dar inaugurated the celebrations of the 972nd Urs of the saint Hazrat Ali Bin Usman Alhajveri (RA) popularly known as Data Gunj Bakhsh by laying traditional “Chadar” on the grave.