This change is anticipated to generate Rs 47 billion in sales tax.
The citizens of Karachi are bracing for another blow as the price of chicken meat and eggs per dozen is set to rise in the coming days.
Price Of Chicken Meat
According to reports on Thursday, the price of chicken meat is expected to go up by Rs 100 to Rs 150 per kg, while the cost of eggs is likely to increase by Rs 50 to Rs 70 per dozen.
Currently, chicken meat is priced at Rs 480 per kg, and eggs are being sold at Rs 240 per dozen in Karachi.
Last month, the Senate Standing Committee on Finance supported the decision to cease tax exemptions on chicken feed.
FBR Officials
During a standing committee meeting, FBR officials announced the abolishment of a 10 percent tax exemption on chicken feed.
They further explained that a 10 percent sales tax will now be imposed on livestock feed, which includes cows and buffaloes.
This change is anticipated to generate Rs 47 billion in sales tax.
Weekly Inflation Rate
The weekly inflation rate, as measured by the Sensitive Price Indicator (SPI). Increased by 0.94% for the combined usage groups. During the week ending June 20, the Pakistan Bureau of Statistics (PBS) reported.
According to the PBS data, the SPI for the week. Under review in the aforementioned group was 316.88 points, compared to 313.93 points the previous week.
Consumption Group Increased By 23.78%
When compared to the same week last year, the SPI for the combined consumption group increased by 23.78 percent.
The weekly SPI, with the base year 2015-16 =100, includes 17 urban centres and 51 necessities for all spending groups.
SPI for the lowest consumption group of up to Rs 17,732 increased by 1.58% to 309.10 points. And from the previous week’s 304.28 points.
The SPI for consumption groups of Rs 17,732-22,888, Rs 22,889-29,517, Rs 29,518-44,175 and above Rs 44,175 increased by 1.44%, 1.20%, 1.11%, and 0.69%, respectively.
To read our blog on “Poultry Body Rejects ‘Propaganda’ Of Coronavirus In Chicken,” click here
