News Desk
ISLAMABAD: In a further blow to the common man, already bearing the brunt of inflation, the federal government has increased the general sales tax (GST) from 17 to 18 percent.
The notification was issued by the Ministry of Finance Division, with the move expected to have far-reaching impact on the already burdened public.
As per the new tax increase, packaged goods such as edibles including oil, ghee, spices, biscuits, jam, jelly, noodles, chocolates, coffees, and other commodities like electronics items and gadgets, including TV, LED, LCD, smartphones, would become expensive.
The new notification would also affect make-up products, shaving foam, gel, cream, blades, shampoo, cream, lotion, soap and toothpaste.
GST increase to severely impact common man
With rising prices of essential commodities, the move is likely to deepen the economic woes of the common man, who has already been struggling to make ends meet. The increase in sales tax is also potentially expected to further increase financial instability in the country.
The decision to increase the sales tax comes at a time when Pakistan is already grappling with a host of economic issues, including rising inflation, dwindling foreign exchange reserves, and a widening current account deficit. The move is likely to exacerbate these issues, putting additional pressure on the government to come up with a viable plan to steer the economy out of troubled waters.
