Summary The prices of the medicines are also likely to increase, say sources
ISLAMABAD (Dunya News) – The government on Monday has approved imposition of at least five percent additional General Sales Tax (GST) on cosmetics, beverages and electronic products.
Federal Minister for Finance Ishaq Dar chaired a meeting of the Economic Coordination Committee (ECC) after talks with the International Monitory Fund (IMF). The meeting resolved imposition of additional tax on chocolates, beverages, dairy products, cosmetics, packaged food, refrigerators, air conditioners, fans and other products. According to the decision, the people will be paying additional at least five percent tax of imported luxury products. The ECC has also approved imposition of additional taxes on imported furnace oil and metal scrap.
According to the sources, the IMF has pressurized the government to take this measure to limit the revenue shortfall. Moreover, the prices of the medicines are also likely to increase, according to the sources.
