The Federal Budget 2024-25 Pakistan worth Rs18,877 billion was approved by the National Assembly, focusing on economic reforms and...
Levy on petroleum products increased by Rs10 only: Govt grants sales tax exemption on import of used solar panels: Finance minister says tax-to-GDP ration will be enhanced to 13%The National Assembly on Friday approved the Federal Budget for fiscal year 2024-25 with an outlay of Rs18,877 billion, reported 24NewsHD TV channel.
For kerosene and light diesel oil, a levy of Rs50 per litre has been in place. High octane fuel will now have a levy of Rs70 per litre while E10 gasoline will be subject to a Rs50 per litre levy.In an effort to support local manufacturing, the government has granted sales tax exemptions on the import of parts used for the production of solar panels. This includes exemptions on back sheet film, connectors, corner blocks, polyethylene compound, and plate sheets.
Aurangzaib said that tax evasion will be stopped and the tax net will be increased for retailers and the real estate sector in the country. He said that the current account deficit has decreased, the financial deficit is also under control and the country currently has a foreign reserve of $ 9 billion, which has provided an import cover of 2 months.
Pakistan Budget Approval National Assembly Budget Federal Budget Highlights Economic Reforms Pakistan Taxation Changes 2024-25
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