In a significant stride towards economic stability, the government has reaffirmed its dedication to the International Monetary Fund’s (IMF) directives. As part of this commitment, the administration had previously pledged to announce gas price adjustments by February 15.
This announcement coincides with a pivotal decision by the cabinet to levy a 25 percent sales tax on domestically manufactured vehicles valued at over 40 lakh rupees. The move is poised to inject a substantial revenue surge, estimated to exceed 4 billion rupees for the Federal Board of Revenue (FBR).
Looking forward, the proposal to uphold the 25% sales tax on vehicles in the upcoming budget underscores a consistent fiscal approach aimed at bolstering the nation’s financial framework.
Furthermore, in a bid to enhance logistical efficiency, the Federal Cabinet has endorsed the transit and transfer of spare parts and new tires for vehicles utilized by the Afghanistan Country Office under the United Nations Development Program (UNDP). This decision, prompted by the Ministry of Commerce’s recommendation, will facilitate seamless operations from Karachi Port to Kabul, Afghanistan.
These strategic initiatives reflect the government’s proactive stance towards economic reform, paving the way for sustainable growth and development.
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