– More taxes on luxury items with 1 percent increase in goods and services tax
ISLAMABAD: Federal Cabinet on On Tuesday, the 2023 Supplementary Finance Bill was approved, providing for for 1% increase in general sales tax and surcharges on luxury items as part of reforms related to the Ninth Review of the International Monetary Fund.
An additional bill was passed in cabinet meeting chaired by Prime Minister Shehbaz Sharif who gave instructions not to tax the daily use items that may affect the poor or middle class.
During the briefing held prime ministers said that under the reforms, luxury items will be taxed.
prime minister said government was done maximum efforts to put a minimum possible cargo on poor people, however he called for taking the necessary measures to tax luxury goods.
Additional funding bill will now be introduced parliament on Wednesday like the President already convened sessions of National Assembly and Senate.
prime minister said that asceticism policy will be accepted for government level that would soon be formal announced for economic difficulties could only be overcome by limiting ourselves in our resources.
He said everything of cabinet members and government officers will be required to comply with the austerity regime package how to run the country out of economic challenges.
He said 220 million of Pakistan bears the brunt of incompetence and negligence of previous government.
“We started from power in difficult circumstances and sacrificed their politics for for the sake of of state. Previous government betrayed people through his high demands of simplicity and rigor,” he observed.
The Cabinet of Ministers approved the renaming of Turkish Foundation for Earthquake Victims as Turkish and Syrian Foundation for Earthquake Victims as prime minister urged people Donate wholeheartedly to this fund.
prime minister expressed condolences over destruction caused unprecedented earthquake in Turkey and Syria. He also briefed cabinet members of his telephone conversation with Turkish President Recep Tayyip Erdogan in in which he assured Pakistan of all support to an earthquakehit people.
He said aid supplies, including blankets, warm clothes and other supplies, had been sent to Turkey and Syria as more goods were also are sent there. Pakistan Air Force, lifeguards, NGOs and philanthropists have been also participate in relief activities, added.
Cabinet members also suggested Fateha for Late mother of Adviser to Prime Minister Ahad Cheema.
The federal cabinet approved the decision of the Economic Coordination Committee. decisions it took in its relevant meetings held on February 10 and 13, 2023 This also approved decisions of cabinet committee on Legislative cases passed in its meeting was held on February 9, 2023
