Senate Wants No Duty Taxes on Flour Mills and Petroleum Goods
The Senate Standing Committee on Finance proposed to the administration the elimination of duties and levies on those items that will exacerbate inflationary pressures.
Senator Talha Mahmood, who presided over the meeting, stated with alarm that the Federal Board of Revenue (FBR) had sent notifications to 1,500 businessmen seeking excessive taxes.
According to a source in the local media, the committee requested these messages’ specifics by July 15.
Senator Sherry Rehman sought the elimination of the Rs 20 per litre tax on gasoline goods. She added that the tax on the flour milling business could cost an additional Rs 97 per 20-kilogram bag of flour. The committee unanimously advised repealing these levies.
Senator Kauda Babar advocated an increase of Rs 25 per pack of Tier-1 cigarettes and Rs 15 per pack of Tier-2 cigarettes in excise charge. This will bring an additional Rs50 billion to the government’s coffers.
Senator Sadia Abbasi recommended a reduction in cosmetics’ levies and taxes. However, Senator Shibli Faraz stated that rather than decreasing cosmetics duties, local industry should be supported.
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