The government has reportedly decided to reduce taxes on the prices of food items, Ayaz Akbar Yousafzai reported for Geo News.
According to sources, a meeting was held in Islamabad under the chairmanship of Prime Minister (PM) Imran Khan to review the rising inflation and the overall economic situation in the country. The impact of the rising prices of petroleum products was also discussed in the meeting.
During the meeting, PM Khan issued orders to the federal ministers to take steps for the implementation of Price Control Committees.
The premier also directed the ministers to keep an eye on the artificial price hike in their constituencies and to take strict measures against hoarders
Commodity prices have gone up in recent weeks.
Addressing a news conference on Monday, Minister for Planning and Development Asad Umar said the government had decided to reduce GST rate and customs duty by half to 8.5 per cent and would abolish 2 per cent additional customs duty to cut cooking oil prices by Rs45 per kilo.
He said that the decision would be implemented on the return of Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin.
