Islamabad: The Federal Board of Revenue (FBR) is considering a proposal for the next budget that involves changing the Computerised National Identity Card (CNIC) requirements applicable on purchase of goods worth PKR 50,000 — with the authority considering whether to increase the exemption limit to purchases above PKR 100,000, as per a news source.
The board is presently working on the budget proposals. The FBR is considering raising the exemption to PKR 100,000 after carefully considering the country’s economic situation, among other considerations.
Reportedly, the Advisor to the Prime Minister on Finance Dr Abdul Hafeez Shaikh will soon be briefed on the budget proposals submitted by the chambers of commerce and industry around the country. The government will then consider the shortlisted proposals for inclusion in the upcoming budget.
According to the information available, the government is expected to announce the budget on June 5 — although the final date has not yet been confirmed.
