Imported luxury items will become more expensive, Mini budget purposed

A draft for the mini-budget has been prepared and forwarded to the Ministry of Law and Justice.

According to a national media outlet, ‘luxury items will be made more expensive in the mini-budget and it has been proposed to hike sales tax on non-essential items and imported vehicles.

Politically, ‘On the other hand, Opposition Leader of National Assembly and President of Pakistan Muslim League-Nawaz (PML-N) Shehbaz Sharif has rejected the mini-budget.
Shehbaz Sharif, in a statement, said that announcement of mini-budget by the government is proof that the government lied to the nation and business community while announcing the annual budget.

PML-N president said that the mini-budget will prove to be the last nail in the coffin of the country’s economy. He also warned that after new legislation, the government will become a tax collector for the International Monetary Fund (IMF) and the economy of the country will be directly under the control of the financial institution.

As an importer we are already facing discouraging policies from Customs authorities, experiencing tireless and uncontrollable practices of shipping lines, paying unjustified wharfage charges at port, above all clearing agents demand under the table money on the name of customs authorities for shipment clearance, in this all situation this news of imposing more duties is indescribably discouraging and excruciating for us, ‘explained by a CEO Le Pont (consumer electronic importer) while talking to BaaghiTv.