Govt to retain tax exemptions on basic items: Shaukat Tarin

MG News | January 13, 2022 at 08:53 PM GMT+05:00

0:00

January 13, 2022: The government has decided in principle not to withdraw exemptions of taxes on basic items such as milk, bread, laptop and solar panels, Minister for Finance, Revenue and Economic Affairs Shaukat Tarin said today.

Speaking in the National Assembly, the finance minister said the finance supplementary bill, 2021 was aimed at documenting the national economy.

He said the country had Rs 20 trillion worth of retail market out of which only Rs3.5 trillion sales were documented which was alarming.

“We will have to document our economy to achieve our tax to GDP ratio target of 18 to 20% as until it does not achieve, we will not be able to maintain our fiscal balance,” he added.

APP

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,226.28 361.89M	0.80% 1291.15
ALLSHR	98,265.59 1,028.96M	0.59% 579.30
KSE30	49,228.54 141.13M	1.12% 547.55
KMI30	230,765.91 122.03M	0.54% 1247.87
KMIALLSHR	63,863.21 525.85M	0.60% 382.09
BKTi	43,972.78 23.50M	-0.03% -11.73
OGTi	31,652.19 27.11M	2.27% 703.92

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	91,300.00	93,290.00 90,055.00	-1625.00 -1.75%
BRENT CRUDE	63.24	64.85 62.86	-1.65 -2.54%
RICHARDS BAY COAL MONTHLY	85.00	0.00 0.00	0.00 0.00%
ROTTERDAM COAL MONTHLY	95.90	95.90 95.90	0.00 0.00%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	59.05	60.70 58.68	-1.62 -2.67%
SUGAR #11 WORLD	14.86	15.05 14.63	0.16 1.09%