ISLAMABAD: Finance Minister Muhammad Ishaq Dar Saturday said that no new duty had been imposed on vegetable ghee and cooking oil in the Budget 2015-16.
Addressing a post-budget press conference here, the minister said that 2 percent duty levied on the two commodities since 2005, had now been transferred to Section 148 of the Tax Ordinance. There would be no impact on the price as there was only change in the schedule, he added.
Similarly, Dar said, no new duty was imposed on fertilizers. The existing 0.2 percent duty charged at wholesale level and 0.5 percent at distribution level had been consolidated and now total 0.7 percent duty would be charged.
He said a section of the press had created misconception about taxes on hi-speed diesel and furnace oil. No new or additional duty or tax had been levied on them, he added.
The minister, however, said that it was proposed to impose tax on the import of cement to protect the local industry. There was no tax on local cement production, he added
