ISLAMABAD: (Parliament Times) Government has geared up to impose five percent import duty on the cosmetics in upcoming budget for fiscal year 2017 to 2018.
According to Federal Board of Revenue (FBR), the prices of eye makeup items that include mascara, artificial eye lashes and color lenses would be increased to 20 percent from 15 percent.
Hair extensions, shampoos and conditioners would also face price hike in the budget.
Besides this, import duty of 20 percent is also expected on perfumes, aftershave and shaving creams.
The budget estimated at Rs 4,800 billion will be announced on May 26.
Sources told that Rs 866 billion has been suggested to allocate for development projects including China-Pakistan Economic Corridor (CPEC) whereas the budget deficit will be around Rs 1500 billion.
About 10 to 15 percent increase is expected in the salaries and pensions of government officials.
On the other hand, Rs 94 billion has been reserved for Interior Ministry, Rs 37 billion for Cabinet Division, Rs 11 billion for Aviation Division, Rs 48 crore for Prime Minister Secretariat whereas President House will get Rs 45 crore for expenses.
The Law Ministry will be given almost Rs 7 billion, Trade Ministry Rs 33 billion, Information Ministry Rs 298 billion while Ministry of Education and Training and Higher Education Commission will be allotted Rs 4 billion and Rs 80 billion respectively.
