Govt decides to reverse sales tax on sugar to ex-mill rate till Nov 30

 Govt decides to reverse sales tax on sugar to ex-mill rate till Nov 30

PTI government decides to reverse sales tax on sugar to ex-mill rate till Nov 30

ISLAMABAD, 20 July: The federal government has decided to reverse the sales tax on sugar to ex-mill rate till November 30 for making a reasonable reduction to its prices.

The reverse sales tax decision was taken during a meeting chaired by Prime Minister(PM) Imran Khan to review prices of essential commodities, PM office media wing said in a press release.

The meeting also decided that ministries of industries and finance would review the future requirement of sugar and its import.

PM Imran Khan directed the chief secretaries for suitable fixation of prices of essential daily items and ensure their implementation.

It was also decided to take strict action against the negligent concerned officials. For the fixation of the proper price of edible oil, it was decided to frame a system.

The premier also directed for early finalisation of legislation over the data sharing of necessary daily use items.

The meeting was attended by Minister for Finance Shaukat Tarin, Minister for Industries and Production Khusru Bakhtiar, PM’s Advisor on Accountability Mirza Shahzad Akbar, PM’s Special Assistant on Social Protection Dr Sania Nishtar and senior officials. Chief secretaries of Punjab and Khyber Pakhtunkhwa attended the meeting through video link.

Read this: Industries ministry fixes retail price of sugar at Rs88.24 per kilo

The federal industries ministry fixed the retail prices of sugar at Rs88.24 a kilo with immediate effect noting that all the taxes and costs are inclusive in this price. A notification by the ministry to that effect asserted the actions will be taken against those found hoarding the essential commodity or overcharging the consumers.

The controller-general of prices and supplies has written to the provincial and federal administrations on the development and said the authorities overseeing the pricing in their respective regions will furnish the performance reports. This new charted price of sugar will remain in effect until November 15, 2021.

Web Desk

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