Due to new regulatory duties enacted by the federal government, Pakistani consumers would see price increases starting on July 1st for a variety of imported cosmetic products, such as skin foundation creams, nail polishes, and perfumes.
According to the Federal Board of Revenue’s most recent SRO.928(I)/2024, import cosmetics will henceforth be subject to a significant 55% regulatory charge. This action is a component of a larger plan to boost income and safeguard regional industry.
Furthermore, a 20% regulatory charge would apply to fragrances and sprays, while a 50% regulatory duty will be imposed on necessities like soap and shaving cream.
Additionally, there is now a 45% regulatory charge on imported jewelry, and there will be greater taxes on a number of clothing products, such as shirts, jackets, and pants.
The decision aligns with the government’s economic priorities by promoting domestic manufacturing and decreasing reliance on imports.
Nonetheless, it is anticipated to have an effect on consumer spending power, possibly leading to an increase in the cost of imported cosmetic and personal hygiene products as a whole.
This development coincides with the federal government’s continuous attempts to reduce import tariffs and increase domestic manufacturing in a number of industries. The market dynamics for cosmetics and associated products are expected to undergo substantial changes in the upcoming months as customers prepare for higher expenses.
