Tax Relief Proposed on Dairy Milk, Medicines, and Stationery in Upcoming Budget

Islamabad:The federal government is considering a proposal to provide tax relief on dairy milk, medicines, and stationery in the upcoming fiscal year’s budget. According to sources from the Federal Board of Revenue (FBR), there is a possibility of reducing the sales tax on dairy milk from 18% to 12%. However, FBR Chairman Rashid Mehmood has stated that meeting budgetary targets for fiscal year 2025-2026 will be challenging, and providing tax exemptions under the ongoing IMF program is difficult.
In another development, the Federal Minister for Overseas Pakistanis, Chaudhry Salik Hussain, announced that a summary for a 15% increase in the EOBI (Employees Old-Age Benefits Institution) pension has been sent to the federal cabinet for approval. This proposed increase will benefit around five hundred thousand pensioners. The minister also revealed that a proposal to raise basic salaries will be included in the upcoming budget. Additionally, technical training will be provided to the workforce as per global demands, and a special task has been assigned to WWF in this regard.
Chaudhry Salik Hussain was addressing the international conference titled “Adapting to Change,” organized in collaboration with the NIRC and ILO. The conference was attended by several high-ranking officials, including Federal Minister for Law and Justice Senator Azam Nazir Tarar, Minister of State for Overseas Pakistanis Aoun Chaudhry, and Chairman NIRC Justice (r) Shaukat Aziz Siddiqui, along with a large number of representatives from federal agencies and trade unions.
The minister also stated that the marriage grant for workers’ children would be increased from four hundred thousand to five hundred thousand rupees, while the death grant would rise from eight hundred thousand to one million rupees. These measures aim to facilitate workers and make their lives easier. Furthermore, the ministry is in contact with various countries to ensure that workers receive health and other essential services. They are also focusing on providing training to people based on international labor market demands.