Finance Minister Dr. Miftah Ismail presented the Federal Budget in the Parliament House for the fiscal year 2022-23. The total federal budget outlay is Rs 9502 billion.
Here are some of the main features of the Federal Budget with focus on relief measures for our readers.
5% sales tax on tractors abolished to zero.
Sales tax on import of Sun flower, Cannola, wheat, seeds has been abolished.
Custom duty on agriculture machinery has been abolished.
Customs and additional customs duties along 400 tariff lines have been rationalized.
More than 30 pharmaceuticals API have been exempted from customs duty.
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