Pakistan Traders Respond to the 2024-25 Budget

News Desk3 weeks ago

The budget was rejected by the Pakistan Anjuman-e-Tajran and the chambers of commerce of several important cities, including Sialkot, Rawalpindi, Karachi, and Faisalabad, on the grounds that it was anti-trader.

The president of All Pakistan Anjuman-e-Tajran, Ajmal Baloch, claimed that the government had implemented a harsh 18% sales tax on mobile phones in addition to a 45 percent tax rise.

According to Ajmal Baloch, the government has not disclosed any plans to cut back on “unnecessary” spending in the budget. The president of All Pakistan Anjuman-e-Tajran also criticized the 18% sales tax on leather items, claiming it will cause a large rise in shoe costs.

Finance Minister Muhammad Aurangzeb unveiled Pakistan’s budget for the fiscal year 2024–25 earlier in the day, to the disapproval of opposition legislators from the Sunni Ittehad Council, which is supported by Pakistan Tehreek-e-Insaf (PTI). The budget calls for spending more than Rs18 trillion.

According to ARY News, the federal government suggested doing away with sales tax breaks and exemptions on a number of goods, including cell phones, copper, coal, paper, and plastic trash.

Senator Muhammad Aurangzeb, the federal minister of finance and revenue, suggested a standard sales tax rate of 18 percent on a range of goods during his budget speech on the floor of the National Assembly.

Read more: PPP Agrees to Support Government Budget in National Assembly

Additionally, the administration suggested raising import taxes on high-end vehicles costing more than $50,000. Additionally, the House was asked to raise import duties on paper and steel products in the budget proposal. According to the proposed budget, mobile phones, copper, coal, paper, and plastic trash would all be subject to an 18% sales tax.


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