KARACHI: Manufacturers of ultra-high temperature (UHT) milk, commonly referred to as Tetra Pak milk due to its packaging, have announced a significant price hike effective from June 12, ARY News reported on Saturday.
According to details, the manufacturers have announced an increase of Rs40 on 1.5 litre milk pack, taking the new price to Rs420. The new prices will be effective from June 12.
Following the announced, the new price for 1.5 litre carton of packaged milk prices will be Rs3,360. Meanwhile, some companies have already increased prices from June 1.
On the other hand, the dairy farmers have demanded Rs50 per litre hike in price of milk. In a statement, the dairy association said that they will increase the prices if the Commissioner does not.
Earlier, it was reported that inflation will likely increase in the 2024-25 federal budget as the International Monetary Fund (IMF) has ‘asked’ Pakistan to further reduce sales exemptions.
The prices of milk, tea, sugar, rice, flour, and packed milk are likely to increase in the budget 2024-25 as the international lender has asked Islamabad further to reduce the sales tax exemptions for fresh loan.
The IMF has demanded imposing a 5-10% sales tax on the zero-rated sales tax sector, the sources said and added that pressure is being asserted to end tax exemptions in FATA and PATA by June 30.
According to budget proposals for the FY2024-25, Pakistan is likely to end exemption on sales and income tax, phase-wise.
Read more: IMF ‘dissatisfied’ with Pakistan’s steps of bringing real estate into tax net
The government is also considering imposing a sales tax on tractors and pesticides, potentially leading to price hikes for these essential agricultural products.
