Boxed milk is likely to become more expensive in the budget of the next financial year. Sources say that the (IMF) has directed a phased tax on branded boxed milk.
Tax exemption for branded milk cartons is likely to end and tax exemption for non-branded milk cartons will be retained.
According to the sources, it is estimated that the milk companies will receive billions of rupees in tax from the decision. On the other hand, there is a fear that leaves, sugar, rice, & flour will become more expensive in the budget.
According to the sources, the inflation is expected to increase further after the budget of the next financial year, the IMF has demanded to end and limit the sales tax concessions. Milk, tea leaves & sugar are likely to be expensive in the budget.
According to sources, packets of milk, rice & flour are also likely to become more expensive in the budget. The IMF has demanded that sales tax be imposed on loose tea leaves in FATA and PATA.
The International Monetary Fund (IMF) has called for a Five to 10 % sales tax on the zero-rated sales tax sector.
