SALIENT FEATURES OF FY25 BUDGET
• GDP growth target set at 3.6pc
• Pension to be increased by 15pc, govt employees’ salaries by 25pc
• Inflation target set at 12pc compared to 21pc last year
• BISP allocation increased from Rs466bn to Rs592bn
• Subsidy allocation of Rs65bn for Utility Stores Corporation, Rs10bn kept for Ramazan package
• Sales tax to increase from 15 to 18pc on tier 1 textile, leather retailers
• Standard tax rate of 18pc on mobile phones; tax on imported phones over $500 to remain 25pc
• Petroleum levy on petrol and diesel increased by Rs20 per litre
• Federal Excise Duty (FED) on cement to increase by Rs1,000 per tonne
• Exemption on customs duties on import of hybrid vehicles, luxury electric vehicles removed
• Concessions on import of solar panels, related raw materials and equipment
Published in Dawn, June 13th, 2024