ISLAMABAD: In the budget for Financial Year (FY) 2024–2025, the federal government on Wednesday promised strict restrictions against vendors peddling fake cigarettes.
The Federal Finance Minister announced that businesses selling counterfeit cigarettes would be shut down in addition to imposing a high tax of 44,000 rupees per kilogram on the materials used to make cigarette filters.
A substantial modification has been made to the Federal Excise Duty (FED) on cement aside from that. Cement now has a three rupees per kilogram FED instead of the previous two rupees.
To avoid the impending default, the Pakistani government is now negotiating a $6 billion to $8 billion credit arrangement with the international lender.The current problems facing the economy on both the domestic and global fronts were taken into consideration when creating the budget. Therefore, the document’s primary goals would be to lessen people’s suffering, improve the agricultural industry, advance information technology (IT), increase exports, encourage industrial growth, and support companies.
