The Pakistan Tehreek-e-Insaf (PTI) government on Tuesday announced its first federal budget for the fiscal year 2019-20, which received mixed reactions from people.
It was presented by Federal Minister for Revenue Hammad Azhar, who delivered his speech while opposition members protested against Prime Minister (PM) Imran Khan and his government.
Amid all the confusion over the increase in prices of different products, which may follow the budget, here is a list of stuff The Current suggests you stock up on before an inflation bomb is dropped.
That was exactly our reaction. But, a new health tax has been proposed on sugary drinks, which will make it costlier to buy sharbat. It’s not just that though…
You heard that right. Those little soft drink breaks during summers will be costing you more now as the health tax will also be jacking up soda prices. The excise tax on soft drinks has been increased from 11.25 per cent to 13 per cent, which is not too much, but will ultimately affect you.
The good part? The money will reportedly be used to provide free medical treatment to people using Sehat Cards that offer treatment up to Rs720,000 from a private or government hospital.
Branded cooking oil and ghee prices will also be rising as a 17 per cent sales tax will be imposed. You must be thinking that it doesn’t really affect you much, but you never know how it may or may not affect food prices.
The good news, however, remains no increase in General Sales Tax (GST) in case you’re planning to dine out.
The price of sugar is expected to increase by Rs3.60/kg since the government is unhappy with the tax collection from the sector. The new budget recommends increasing sales tax on sugar from 8 per cent to 17 per cent.
We don’t endorse the next thing you need to stock up on, but let’s be honest, we know a lot of people who smoke.
The budget has also recommended a federal excise duty of Rs5,200 on every 10,000 cigarettes be imposed, which means every pack of 20 cigarettes you buy will cost you at least Rs10 more.
Just so you know, tobacco consumption kills nearly 160,000 Pakistanis every year, and a lot of people are supporting the move.