ISLAMABAD (Dunya News) – Retailers may face penalties for selling counterfeit, smuggled, and untaxed cigarettes as the federal budget for the fiscal year 2024-2025 proposes strict measures against such practices.
These penalties were announced by Finance Minister Aurangzeb while presenting the federal budget 2024-25 in the National Assembly on Wednesday.
The minister expressed concern over the continued availability of these illicit cigarettes in the market, despite the introduction of a track and trace system.
To combat this issue, shops selling cigarettes without tax stamps could face sealing or closure in the future.
Finance Minister Aurangzeb unveiled the Rs18,877 billion federal budget for the fiscal year 2024-25, setting a GDP growth target of 3.6 percent and projecting an inflation rate of 12 percent.
He also noted that the budget deficit to GDP is estimated at 6.9 percent, with a primary surplus projected at 1.0 percent of GDP.