The federal government’s annual budget for the financial year 2023-2024 is here, revealing changes in tax rates and some major changes for the economy of the country. Fortunately, there was a decrease in tax rates for laptops, PCs, battery parts, and a few other gadgets, but the same cannot be said for fans and bulbs.
According to exclusive government documents available with ProPakistani, energy-inefficient fans, whether produced locally or imported from elsewhere, will have an Rs. 2000 tax rate per fan. This does not include DC fans and other energy-efficient fans.
As for incandescent bulbs, both locally manufactured and imported, will have a 20% tax rate over their total value.
This will translate to a notable increase in prices for both fans and bulbs all over the country. However, note that this does not include energy saver bulbs, LEDs, or other energy-efficient bulbs. Energy-efficient fans are an exemption as well.