Islamabad: The details of Pakistan's Federal Budget for 2025-26 have been revealed, showing some important changes for citizens and businesses. Bol News has seen a copy of the Finance Bill, which will be shared in the Assembly today.
One of the biggest changes is a new carbon tax of Rs 2.50 per liter on both petrol and diesel. A similar tax of Rs 2,665 per million tons (also Rs 2.50 per liter) will apply to furnace oil.
For real estate, the budget is bringing in a new tax credit, which could make buying and selling property more attractive.
To fight smuggling, the government plans to start a special cargo tracking system.
Good news is also in store for some industries. The tax (duty) on importing raw materials for LED bulbs will be completely removed next year. The import tax on steel raw materials will be cut from 15% to 10%, and duties on other general raw materials will also drop to zero. Finally, the tax on sewing machines used in the textile industry will also be removed.
These changes aim to manage the economy, raise some money through new taxes, and help certain local industries grow.
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