Starting from July, consumers in Pakistan will see an increase in prices for various imported cosmetic items and other goods, following a decision by the federal government to impose or raise regulatory duties. This move, detailed in the Federal Board of Revenue’s latest notification SRO.928(I)/2024, supersedes the previous SRO 966(I)/2022 and targets a wide range of imported products.
Key changes include a significant 55% regulatory duty on imported cosmetics such as nail paints, blushers, and skin foundation creams. Additionally, perfumes and sprays will now face a 20% duty increase, while shaving cream and soaps will be subject to a 50% regulatory duty.
The regulatory landscape extends further, with imported jewellery facing a 45% duty hike, and a range of clothing items including jackets, overcoats, trousers, and shirts seeing increased taxes as well. Oral and dental hygiene products will now incur a 50% duty, while cheese, curd, vegetables, sugar confectionery, tobacco, and pet food will also be affected by varying duty increases ranging from 25% to 55%.
These regulatory adjustments are expected to directly impact retail prices, as importers and distributors adjust to accommodate higher costs associated with these duties. Consumers should prepare for potentially higher prices on imported cosmetics and other affected items as the new duties come into effect.
The government’s decision aims to bolster local production and reduce reliance on imported goods, while also generating additional revenue through increased duties on imported products. However, it may lead to higher costs for consumers in the short term, affecting purchasing decisions and consumer spending patterns in the market.
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