June 27, 2024

Karachi, June 27, 2024 – The government of Pakistan remains undecided on the implementation of the new normal tax regime for exporters, set to begin on July 1, 2024, amidst considerable opposition from the sector, sources revealed on Thursday.

Sources indicate that the International Monetary Fund (IMF) has refused to grant concessions on most items proposed in the Finance Bill 2024-25. However, the IMF has agreed to certain changes, such as abolishing the General Sales Tax (GST) on textbooks, restoring rebates for professors and researchers, and withdrawing the Federal Excise Duty (FED) on cement. Additionally, some technical amendments have been accepted.