In the budget for the fiscal year 2024–2025, the federal government led by the PML–N agreed to do away with import tax concessions for imported luxury cars, News reported on Wednesday.
The federal government suggested eliminating the import tax breaks for imported luxury cars in an effort to deter the purchase of expensive cars and support regional manufacturing.
The decision also calls for raising import vehicle taxes and levies beginning at Rs 50,000.
In an attempt to improve revenue from the construction industry, the federal excise charge on cement has been raised from Rs 2 to Rs 3 per kg.
The government has made the decision to abolish concessional rates and sales tax exemptions in favor of imposing a uniform sales tax rate on a variety of items.
