Local retail markets in Pakistan have seen a massive surge in the prices of tomatoes with Eid al-Adha merely a day away.
The prices in Peshawar have rocketed to over PKR 200 per kilogram, reported Express Tribune.
The prices have been increased despite the district government setting it at Rs100 per kilogram.
According to reports, under Section 144, the Peshawar Deputy Commissioner has imposed a ban on transporting tomatoes out of the district.
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However, the surge in prices takes place every year during Ramadan and Eid al-Adha.
The prices have increased by Rs100 per kilogram in a single day, and it now seems the district administration’s efforts will remain limited to verbal instructions yet again, The Express Tribune reported quoting local residents.
Earlier this year, in April, due to restricted supplies during Eidul Fitr, the prices of tomatoes had surged to ₹500 per kilogram in the local retail market.
Reports said that the implementation of aggressive tax measures, highlighted as key revenue strategies, seems paradoxical as they could potentially escalate prices instead of stabilising them.
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Abid Suleri, Executive Director of the Sustainable Development Policy Institute (SDPI), argues that the government ought to have adjusted the minimum taxable income thresholds to factor in inflation when outlining personal income tax brackets. He criticises the current monthly exemption of PKR 50,000 as insufficient and warns that doubling taxes on those falling within the initial tax slab could reduce their disposable income, thereby exacerbating economic hardships, reported ANI.
Moreover, heightened fuel expenses stemming from amplified levies and augmented GST rates in specific sectors are anticipated to drive inflation even higher, intensifying the overall cost of living. Suleri emphasises the absence of any mention regarding the taxation of agricultural income, which he believes could substantially broaden the tax base, Dawn reported.
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Vikram Sharma is a globe-trotting journalist with a global perspective on international events. His articles offer readers a global perspective on international events, exploring complex geopolitical issues and providing insights into the world’s most pressing challenges.
