*ISLAMABAD:* 7000 imported products prices to be increased in Pakistanunder the new Finance Bill 2018-19, announced on Friday.
Under the new Finance Bill, the government aims to increase customs duty totwo per cent against one per cent collected previously in an effort toincrease tax revenue and curtail imports.
According to customs officials, some 7000 products come under four slabsthat would be affected by the increase, meanwhile, the tax departmentcollects around Rs50 billion from these products, which will be doubled toRs100 billion after the increase in customs duty.
Meanwhile, mobile phones, luxury items, home appliances, copper tyres,washing machines, patrol generating sets, LEDs and electronics appliancesare among the many products likely to be affected under the new customsduty regime.
Advisor to Prime Minister on Revenue Senator Haroon Akhtar in thepost-budget conference said that the purpose of increasing the customs dutyis to curtail the imports as imports have reached $30 billion in the firstnine months of the current fiscal year.