IMF condition: FBR raises sales tax on two dozen goods

Two percent increase on arms and ammunition, biscuits, auto parts, air conditioners, refrigerators, gas heaters.


Web Desk October 04, 2013
Two percent increase on biscuits, chocolates, auto parts, air conditioners, refrigerators, gas heaters. DESIGN: ESSA MALIK

ISLAMABAD: The Federal Board of Revenue (FBR) increased the sales tax on two dozen goods by two per cent in an effort to increase revenue collection, Express News reported on Friday.

The goods include biscuits, chocolates, auto parts, air conditioners, refrigerators and gas heaters among others.

The sales tax has also been levied on arms and ammunition, paints, batteries, lubricant oil, oven, gas heater, telephone set and irons.

A notification has been issued by the FBR in this regard.

The sales tax was increased to fulfill a key condition of the International Monetary Fund’s (IMF) $6.7 billion bailout programme.

A tax of 3% has also been levied on the import of fabrics, according to another notification issued by FBR.

On Thursday, the government had approved to sell 26% or more shares of 31 state-owned entities including Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM) to fulfil another IMF condition.

COMMENTS (25)

meekal ahmed | 7 years ago | Reply

@Pakistani: The answer to that question should be self-evident, no?

Tax properties and all the provinces would move into surplus.

The Failed Rebel | 7 years ago | Reply

@New Start: Incorrect. Completely incorrect. Please educate yourself about IMF, its owners, its purpose and the policies it enforces. Long story short, every interest-based debt will always result in poverty, unemployment and misery. The reason why people and economists don't realize it is because it is all clouded by complex mathematics, models, and useless gibberish. Have the insight! Educate yourself. IMF is under Bank of International Settlements. The aforementioned 2 bodies are privately owned and governed. They want profits. Debt system in its essence seeks to acquire more money than it is in a certain system. Which eventually leads to some people loosing the meals on their table. It might bring temporary relief, an illusion clouding the devastation that follows. For my people to know more, it's important they understand the menace of interest before Pakistan is no more. Rise Pakistan Rise!

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