Luxury Restaurants to Be Imposed With 25% Luxury Tax
4 weeks ago
Sheikh Allauddin — Punjab Minister for Industries, Commerce and Investment — announced that a 25% luxury tax will be imposed on luxury restaurants.
The tax will be imposed on posh hotels and restaurants which serve food late in the night, as per the details.
Debate Upon the Regulatory Duty
Upon facing criticism over the imposition of tax, Allauddin retaliated by saying that certain food items should not only be available to the privileged but instead they should be accessible to everyone.
He diminished the argument ignited in the Punjab Assembly regarding ‘regulatory duty’ by saying that this section of the society deserves access to food on reasonable prices in return for the hard work they do all day.
We imposed regulatory duty in the larger interest of nation and its industry.
Perhaps, the opposition leader has reservations on the imposition of 50% regulatory duty over perfumes, lipstick, eyeliners, nail polish, face-powder, skin creams, talcum-powder and other material.
Alauddin further added that the tax levied on this certain part of society that lavishly spends on weddings is necessary and should not be retaliated upon.
He was of the view that it was fair to impose taxes on individuals who are capable of owning vehicles valued above Rs. 40 million.
Rising Prices Of Vegetables
When questioned regarding the rising prices of vegetables by the opposition leader, Allauddin assured that the prices of vegetables would go down once supplies from Sindh are received.
He also said that shortage of tomatoes was not encountered until July. The shortage was a result of an infestation of a virus affecting the supply of tomatoes from Balochistan during August and September.
He explained that despite acquiring KP as its supplier, the shortage had caused a shoot in the price of tomatoes causing them to cost in the range Rs. 110 to Rs. 120.
Allauddin added that while a few groups aimed to increase imports of tomatoes from India, they were not able to convince the government regarding it.
Wheat import has been imposed with 60% regulatory duty in an attempt to favor the farmers as well.
The matter was reiterated by the Minister for Industries by announcing that the levied taxes would only bring about betterment for the industry as well as the country.