Pakistan Flour Mills Association (PFMA) has warned that the price of flour will increase by Rs. 5 per kg or Rs. 90 per bag of 20 kilograms after 1 July, due to the hike in three taxes related to the flour mining industry in the fiscal budget 2021-22.
PFMA said that if the proposed hike in the yearly turnover tax on the flour milling industry and sales tax on bran is not withdrawn, they will go on strike.
ALSO READ
Pakistan is Seeing Lower Food Inflation Despite International Price Hikes: NPMC
PFMA Central Chairman, Badar Uddin Kakkar, and PFMA Punjab Chairman, Asim Raza Ahmad, informed that the turnover tax has been increased to 1.25 percent from 0.25 percent in the proposed budget while the sales tax on bran sales has been increased by 10 percent and the sales tax on import of machinery used for making flour has been increased by 7 percent.
ALSO READ
Unity Foods Limited Appoints Sulaiman S. Mehdi as Its Chairman
They said that after these taxes are imposed, it would also lead to an increase in flour prices in Sahulat Bazaars.
