Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin Friday said that the government is bringing a ‘mini budget’ next week under an agreement with the International Monetary Fund (IMF), but it will not end the tax exemption on food items.

In an interview to a foreign Urdu website, Shaukat Tarin said that in the ‘mini budget’, customs duty on make-up items, clothes, shoes and other imported luxury items including perfumes will be increased.

In addition, the sales tax rate on some locally manufactured items will be increased from 12 percent to 17 percent.

Meanwhile, the finance adviser said that petrol prices had not come down till now after falling prices in the world market.

However, petrol prices in Pakistan will be reduced in coming weeks, the Finance Adviser said.

This story was first published in Business Recorder on Dec 11, 2021.