Despite assurances to improve the dairy sector and continuous requests by the dairy industry to make the dairy industry a zero-rating sector of the economy, the incumbent government has taken a 180 degree turn and the taxes increased from 10 percent to 17 percent for the upcoming fiscal year 2021-22.
As a measure to broaden the tax base, there was agreement on exemption of import duty on card reader machines, while the government has also announced the abolishment of tax on import of point-of-sale machines and these accessible to retailers for duty-free import.
It must be mentioned, interest rates will be maintained on Special Savings Certificates, Special Savings Account, Bahbood Savings Certificates, Pensioners Benefit Account, Shuhada Family Welfare Account, Savings Account, Short Term Savings Certificates (three months), and Short-Term Savings Certificates (12 months duration).
According to Pakwheels’ sources, KIA is bringing competition to the popular field of sedans, which are currently ruled by Honda Atlas’s Civic and Indus Motor’s Corolla, and the recent entrant Hyundai Elantra. Honda Civic and Toyota Corolla are two of the most popular sedan choices in Pakistan.
Cumulatively, during the current 11MFY21, the vehicle sales amounted to 217,217 units, registering an increase of 62 percent YoY. It must be mentioned here that this number is higher than the number of vehicles sold in the pre-pandemic era.
The CM Sindh said, referring to the ongoing pandemic, "It hurt us in many ways. I bow my head in respect to every citizen, for the endurance shown in facing what was an undeniably a tough year for all our physical and mental well-being.”
In the budget speech on 11th May Finance Minister Shaukat Tarin mentioned two major highlights, namely the introduction of the EV policy to incentivize the manufacturing and introduction of electric vehicles in the Pakistani market, and the reduction in taxes for cars with power less than 850cc.
According to details, the Punjab government has set aside Rs24 billion for various mega projects in Rawalpindi in the provincial budget for the fiscal...