Petrol will be more expensive, mobile phones, cars, make-up, stationery, and packaged food items are also likely to be more expensive. According to sources, the tax exemption of Rs 350 billion will end in the mini-budget.
Inflation-stricken people should be prepared for the new wave of inflation. The federal government announced in the recent session of the National Assembly to approve the mini-budget. According to economists, a new storm of inflation is likely to come from the mini-budget.
According to sources, more than 1,700 items will be taxed in the mini-budget. Expensive petrol will be more expensive. Mobile phones, stationery, and packaged food items are also likely to be more expensive.
Mini-budget will eliminate tax exemption of Rs 350 billion. Make-up items for women will also be expensive. Imports of luxury goods will be taxed.
The federal excise duty on vehicles is expected to increase by 2.5 percent and sales tax on tractors by 5 percent. Customs duty on imported clothes, shoes, and perfumes will increase. Imported baby diapers will be more expensive.
Sales tax on locally-made goods is likely to be increased from 12 to 17 percent.
Sources said that the mini-budget includes a proposal to increase the tax collection target from Rs 5,829 billion to Rs 6,100 billion. The proposal to cut Rs 50 billion in the development budget is also part of the mini-budget.