ISLAMABAD – The Finance Minister of Pakistan Ishaq Dar has proposed a cut in excise duty, sales tax and customs duty on mobile phones and smartphones in the Federal Budget 2017-18 on Friday.
While presenting the budget in the national assembly, Finance Minister said that withholding tax on mobile phones has been reduced to 12.5 percent from 14 percent. The total size of the budget is Rs.4.8 trillion.
He further revealed that customs duty on smartphones has been reduced to Rs. 650 from Rs.1000.
Dar told in his address that the government has also increased the salary of employees to 10 percent in the new budget.
The pension of government employees has also increased to 10 percent, the budget for defense has allocated to Rs. 920 billion which will enhance the military capacity if Pakistan.
For the first time, Prime Minister and Finance Minister presented the annual budget in the parliament of Pakistan.