Budget FY2024-25 : Cigarettes to become expensive
Staff Correspondent
Finance Minister Abul Hassan Mahmood Ali on Thursday proposed raising supplementary duty on cigarettes by 1 percentage point and fixing it at 66 percent.
Stating that cigarettes are extremely harmful to human health, the finance minister in his budget speech, said, “To reduce the use of such harmful products and increase revenue collection, I propose to fix the supplementary duty rate at 66 percent instead of 65 percent.”
Mahmood Ali also recommended increasing the value added tax on the local production of cigarettes and bidi paper (a type of cheap cigarette made of unprocessed tobacco wrapped in leaves) to 15 percent instead of the existing 7.5 percent.
