The Economic Coordination Committee (ECC) has approved the increase in sales tax on manufacturers at the local level, after which the prices of vehicles are likely to increase.
Sales tax of up to 25% will now be imposed on vehicles worth 4 million or 1400 cc.
The sales tax imposed on vehicles worth 4 million or 1400 cc will be imposed in the upcoming budget as well, after the approval of ECC, vehicles are expected to become more expensive in the country.
FBR will get an additional revenue of 4 billion rupees during this financial year.
In the meeting, the ECC directed the Competition Commission to investigate the recent hike in fertilizer prices and take action against those involved.
The ECC says the Competition Commission should take action against those involved in the recent hike in fertilizer prices.
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