ISLAMABAD – The federal government on Wednesday announced stringent measures against vendors selling counterfeit cigarettes during the budget for Financial Year (FY) 2024-25.
The Federal Finance Minister revealed that establishments engaged in the sale of fake cigarettes would face closure, alongside the imposition of a hefty tax of 44,000 rupees per kilogram on materials utilized in cigarette filters.
Besides it, a significant adjustment has been made to the Federal Excise Duty (FED) on cement. The FED on cement has been elevated from 2 rupees per kilogram to 3 rupees per kilogram.
The Pakistani government is currently in talks with the global lender for a loan deal ranging between $6 billion to $8 billion to avert the looming default.
The budget had been formulated while considering the existing challenges being faced by the economy at domestic and international fronts. Hence, mitigating people’s sufferings, transforming the agriculture sector, promoting Information Technology (IT), boosting exports, promoting industrial growth and bolstering businesses, would be the main focus of the document.
