As preparations for the upcoming fiscal year’s budget continue, sources reveal that the government is considering a significant increase in taxes on various food and beverage items in an effort to boost tax revenue.

The proposed measures are expected to push prices higher, raising concerns among consumers already battling inflation.

According to insider reports, soft drinks, sweetened beverages, and juices may see a substantial price surge, with excise duty likely to rise from 20% to 40%.

Similar hikes are under consideration for carbonated soda water, flavored drinks, and non-sugar confections.

A 20% tax on industrial dairy products is also being proposed, while meat products such as sausages, salted, dried, and smoked meats may face increased prices as well.

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Furthermore, items like chewing gum, candy, chocolate, caramels, and various bakery goods could be subjected to a tax hike of up to 50%, which might be implemented gradually over a period of three years.

While the government aims to widen the tax net and enhance revenue through these proposals, economists and consumer advocates warn the move could deepen the financial strain on the public amid already rising living costs.