Islamabad – A mini-budget 2024 may be introduced this fiscal year as the government, in a proactive move, considers implementing emergency tax measures worth Rs. 130 billion. According to sources, the government has informed the International Monetary Fund (IMF) about these potential tax measures to address the revenue shortfall, demonstrating its commitment to sound fiscal management.
The proposed measures include increasing beverage excise duty by 5% and imposing a 1% advance tax on imported machinery. Additional proposals suggest imposing a 1% tax on commercial importers and a 1% advance income tax on imported industrial raw materials.
Moreover, according to official documents, the government is considering a 1% tax on supplies and an additional 1% tax on contracts. These measures are estimated to generate an extra Rs. 2.3 billion in monthly revenue for the government, helping to bridge the fiscal gap.
