Budget 2023-24: Prices of those products to go up

Finance Minister AHM Mustafa Kamal has proposed changes to duties on different products, which will result in an increase or decrease in their prices.

In the proposed budget, these products might see price hike:

Pen: In the proposed budget, VAT exemption on the production of ballpoint, has been proposed. This may increase the price of educational materials pens.

Tissue paper: the minister proposes to increase the VAT on kitchen towel, toilet tissue, napkin tissue, facial tissue/pocket tissue and paper towel. As a result, these items would become costlier.

Luxury car: the supplementary duty on import of cars above 2000 cc has been increased massively. So, the cost of buying a high engine power cars will increase.

Basmati rice: VAT has been imposed on the import of non-fortified basmati rice. This may increase the price of rice.

Mobile phone: The VAT on various levels of local manufacture of mobile phones has been increased. This would raise the price of the product.

The other products that might see a price hike– LP gas, glasses frame, cycle, utensils, microwave-oven, dates, cashew nuts, cigarettes, cement, glue, cheese, cards, and gas lighters.