duty on 313 imported items to go up in 72 hour

Mehtab HaiderISLAMABAD: The government has decided to enhance regulatory duty on more than 313, what it called, luxury items within the next 72 hours in order to generate around Rs40 billion in line with the IMF’s commitment for avoiding revenue shortfall in achieving the desired tax target of Rs3,104 billion.Top economic managers disclosed to The News on Wednesday night that the government dropped the idea to promulgate a presidential ordinance or then getting approval from parliament for legislation to amend the income tax or sales tax laws keeping in view expected stiff resistance from the opposition parties, especially in the Senate.’We have decided to rely upon increasing regulatory duty on luxury items in order to bridge the gap of Rs40 billion revenue shortfall in the coming seven months (Dec to June) period,’ said the official.The items under consideration on which the duty may be enhance included packed or imported yogurt, butter, dairy spreads, cheese, natural honey, pineapples, guavas, mangoes, orange, lemons, apples, cherries, peaches, strawberries, pomegranates, lichis, dried fruits, chewing gum, cocoa powder, macaroni, vermicelli, pasta, corn flakes, sweet biscuits, waffles and wafers, rusks, cucumbers, pickles, tomatoes, tomatoes paste, potatoes and other vegetables, soya sauce, tomato ketchup and other tomato sauces, ice cream, syrups and squashes, mineral waters, dog or cat food, perfumes, lip makeup, eye makeup, nail polish, face powder, talcum powder, face and skin creams, lotions, shampoos, hair dyes, tooth paste, deodorants, soap in other forms, marble, granite and other stone, waste and scrap of tinned iron or steel, semi-finished products of iron or non- alloy steel, bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel.