ISLAMABAD: The government has decided to increase of federal excise duty on cigarettes, sugar, beverages and cooking oil in the budget for the financial year 2015-16.
The government has accepted a proposal from Federal Board of Revenue (FBR) for raising FED from 19 to 33 percent on cigarettes, 9 to 12 percent on beverages and 8 to 17 percent on sugar.
The increase in FED is likely to accrue billions of rupees in revenue for the government. Approval in this regard will be accorded in the June 5 cabinet meeting.
