In the new federal budget, the government has proposed a ban on foreign travel for individuals who do not file their tax returns. The chairman of the Federal Board of Revenue (FBR) stated that non-filers would be prohibited from traveling abroad.
The FBR is also coordinating with the Power Division to obtain details about the ownership of houses and the names on electricity meters. This is to address discrepancies where the house and the electricity meter are registered under different names.
The federal government has presented a budget exceeding Rs 188 trillion for the financial year 2024-25, which includes a deficit of Rs 85 trillion. The budget has set a tax revenue target of over Rs 12 trillion.
Furthermore, the government has also proposed a huge increase in the petroleum levy on various petroleum products.
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During the presentation of the federal budget for the fiscal year 2024-25, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, announced the government’s plan to increase the levy on petrol and diesel by 33 percent. The proposal suggests raising the levy from Rs 60 to Rs 80 per litre for both petrol and diesel.
Furthermore, the government has proposed a 50 percent increase in the levy on high-octane, light diesel, and ethanol. If approved, the levy on these products will rise to Rs 50 per litre.
The National Assembly is set to consider these proposals as part of the budget approval process.
