Speaking to a TV reporter, Jahangir Tareen said that sugar prices will increase by Rs3.60 with the proposed tax in budget 2019-20.
Islamabad (Pakistan Point News – 21st June, 2019) Disqualified Pakistan Tehreek-e-Insaf (PTI) leader Jahangir Tareen has said that he wants zero tax on sugar.
Speaking to a tv reporter, Jahangir Tareen said that sugar prices will increase by Rs3.60 with the proposed tax in budget 2019-20.
He said that people used to give 8% tax on sugar but now they would have to pay 17% tax. Jahangir Tareen said that he wants the 17% tax to be brought down to 0%, adding that the cut in tax will decrease sugar prices by Rs10 per kilogramme.
However, he said, this will create a budget deficit for the government.
The disqualified PTI leader said that the public should be given relief wherever possible.
The PTI government has presented its first Federal budget for the year 2019-20, with total outlay of Rs7.022 trillion, focusing on fiscal consolidation, revenue mobilization, austerity measures and protection to the vulnerable segments of society.
The budget proposed to enhance the rates and redefine the thresholds by abolishing the third tier introduced earlier.
The government has increased sales tax on sugar from 8 percent to 17 percent.
This will increase the sugar prices by Rs3. However, this increase will benefit the sugar mill owners.
Among the political circle, PTI leader Jahangir Tareen will be a major beneficiary of this sales tax.
Some people are of the view that Jahangir Tareen group, producing Rs22 million tonnes of sugar, will get a profit of Rs66 billion.
