June 07, 2014
The news item captioned “New Budget concedes more to Qatari, Emirati Royals than Pakistanis” published in a section of the press today on 7th June is not based on facts. No new taxes have been proposed to be levied on potatoes, tomatoes and medical syringes. The existing zero rating on potatoes, tomatoes other vegetables and pulses have been proposed to be continued in the Finance Bill. Similarly, existing concessions on all pharmaceutical raw materials, products/drugs have been proposed to be maintained and no new duty & taxes have been proposed on medical syringes and glucose strips.
In Finance Bill, the government has proposed reduction of duty rate from 30% to 25% on items like food preparations, fruits, kitchen wares and electronic appliances etc .However, regulatory duty is proposed to be levied on high end consumer goods.
Further, the government has not proposed any new concessions for Qatar/ Emirates dignitaries in the Finance Bill. The existing concessions have been proposed to be maintained.
Shahid Hussain Asad
Member (Policy-IR) / Official Spokesperson, FBR