Finance Adviser Salehuddin Ahmed has assured that the recent decision to raise VAT on 43 items will not impact the prices of essential commodities.
Speaking to journalists on Thursday (2 January), following a meeting of the Advisory Council Committee on Public Procurement at the secretariat, the adviser emphasised that the adjustments were implemented not to fulfil the International Monetary Fund's (IMF) conditions but rather to bolster revenue collection.
“The common people will not suffer,” he said, explaining that the VAT increase applies to hotels above the three-star category, leaving standard hotels and restaurants unaffected.
He also expressed optimism regarding economic stability in the new year.
The adviser stated that banks would receive adequate support, and the upcoming budget would prioritise increased allocations for the education and health sectors.
