Govt presents mini budget today, prices of 5000 products likely to go up

The prices of around 5000 products are expected to increase as Pakistan Tehreek-e-Insaf-led (PTI) government will present mini budget today (Tuesday).

The federal government has decided to impose regulatory duties on 150 luxury products and to fix the income tax ratio to the June 30 level is also under consideration in new mini budget.

PTI’s focus is to curb imports while increasing the exports in a bid to lessen the trade deficit. For this reason, the government is mulling over reducing the age limit of imported jeeps to 3 years and for cars to 2 years, from 5 and 3 years respectively.

The government is likely to cut down the federal development program through budget.