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Great good news for consumers using less than 200 units of electricity. According to media reports, those using less than 200 units will get loans from the government for purchase of solar panels. In the Federal Budget 2022-23, import of solar panels has been exempted from sales tax.
In the Federal Budget 2022-23, the film has been restored to industry status, the Film Finance Fund, the medical insurance policy of artists will be established and tax exemption for filmmakers for 5 years, 70% of the content will be applied to foreign filmmakers in Pakistan, customs duty will be exempted from customs duty on the import of machinery, equipment and equipment for film dramas.
According to media reports, Finance Minister Muftah Ismail"s budget speech said that the budget size will be Rs 9,500 billion, the Benazir Income Support Programme will now fund 10 million people, the low income family will get rs 2,000 per month.
1450 billion will be spent on defence, government borrowing limit was fixed at 60% of GDP, provinces" share in revenue stood at Rs 3512 billion, Rs 800 billion has been allocated for development budget and Rs 5 billion for Ramadan package, concessional gas facility will be provided for industry, steps will be taken to provide tax refunds of industries immediately.
The budget has announced a special package for backward districts of Balochistan, it has been decided to increase educational scholarships for the youth of Gwadar, new gas prices will be announced soon.
The National Youth Commission will be set up, a Green Youth Moment will be launched, the former government borrowed Rs. 20,000 billion in a span of 4 years, tax evasion in the country is estimated at Rs. 3,000 billion.
A comprehensive programme is being formulated to check tax evasion, revolutionary steps have been taken to make raw materials cheaper for local industry, customs duty on raw materials, additional customs duty and regulatory duty reduction have been announced. 4,000 raw materials of different types are being made cheaper, budget concessions for pharmaceutical companies, customs duty on pharmaceutical raw materials were decided to be abolished.
Customs duty on agricultural machinery has been announced, tax exemption has been decided for irrigation farming and crop harvesting industries. The budget has allocated 44 billion for HEC development schemes.
100,000 laptops will be provided to students across the look on easy installments. Up to 5 lakh interest free loans will be given to the youth for business, there is a scheme to lend up to 2.5 crore to the youth on easy terms, The amount of the Benazir income has been increased from Rs. 250 billion to Rs. 364 billion, rs. 12 billion allocated for subsidy of goods at the utility store.
The film has been restored to industry status, a film finance fund has been set up at a cost of 1 billion per annum, a medical insurance policy is being launched for artists, tax exemption is being given for filmmakers for 5 years, tax rebate will be given on export of film and drama for 10 years, income of cinema and producer is being exempted from income tax.
A National Film Institute is being set up at a cost of Rs 1 billion, post film production faculty and national film studio are being set up, foreign filmmakers are being given a bet on film and drama projects at the local level.
The condition of shooting 70% of the content on foreign filmmakers in Pakistan will be applicable, 8% of the two holding tax imposed on distributors and producers is being abolished, customs duty on import of machinery, equipment and equipment for film and drama will be exempted from customs duty for 5 years, sales tax zero and entertainment duty on ordering equipment for new films, plays is being abolished.