Pakistan budget 2024-25: Which daily use items will become expensive from July 1?

Instead of providing any relief to salaried and the non-salaried individuals, the govt increased effective income tax rate

Business Desk - Jun 29, 2024

A vendor uses a calculator at his shop in this undated picture. — Reuters/File

The Parliament approved the tax-loaded Finance Bill 2024 in order to lure the International Monetary Fund (IMF); however, the people of Pakistan have raised concerns as the government the increase taxes on some daily use items making the products dearer for the people.

With the approval of 10% sales tax on animal feed, poultry feed, livestock, feed, etc the price of chicken, beef, and mutton are expected to rise massively.

Moreover, taxes on medicines will make over-the-counter medications for common ailments such as cold, flu more expensive.

Sales tax have also been imposed on imported mobile phones valued under $500. The mobile phones will be charged at the rate of 18% and 25% sales tax.

The price of packaged and infant milk will also be increased as the National Assembly approved 18% GST.

Instead of providing any relief to the salaried and the non-salaried individuals, on the advice of the government, the National Assembly increased the effective income tax rate of a salaried person to 39%, for association of persons to 44% and for the non-salaried individuals to 50%.