Pakistan govt plans to raise tax on cigarettes

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Islamabad, June 9 | Pakistan’s health ministry has proposed a 30 per cent hike in the tax rates for the cigarette industry in the upcoming Budget 2021-22.

The federal government is reviewing three different tax proposals, geotv reported.

Tobacco companies, however, proposed no change to the tax rates and say they will bring the tax amount from Rs134 billion to Rs155 billion, The News reported.

The FBR has collected a tax amount of Rs134 billion during the current fiscal year.

Multinational giants have proposed no change in the tax rates of the two tier system and committed to add Rs21 billion to FBR’s tax collection amount.

If the much-awaited track and trace system is implemented, the FBR collection may go up to Rs175 billion in the next fiscal year.

Local cigarette manufacturers from Mardan and AJK have suggested the government reduce excise duty on local brands, but they did not make any commitment to increase revenue.

The following are the three different tax proposals being reviewed by the government:

The Ministry of National Health Services Regulations and Coordination, has recommended a 30% increase in excise duty and projected a Rs18 billion increase in revenue.

This would increase excise duty rates in the second tier from the existing rate of Rs 1,650 per thousand cigarettes to Rs 2,145 per thousand cigarettes, resulting in a Rs 30 to Rs 50 increase in the prices of duty-paid brands.

To the common man, this could be an ideal proposition, which seems to be aimed at increasing the government’s revenues and may also reduce the addiction to smoking, said one analyst.

The second proposal being pushed by Mardan and AJK-based tobacco conglomerates primarily seeks reduction in excise duty through a differentiated excise structure, but without any increase of revenue commitments.

The introduction of a separate third tier has been suggested as well, solely for local companies to operate in.

Source: IANS

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PURPOSE FUELS YOUR PASSION: MUNISH MAYA

PURPOSE FUELS YOUR PASSION: MUNISH MAYA

Don’t get confused with your purpose and passion as both go well together

Passion as well as purpose both goes hand in hand. Purpose defines the passion in life. If you are passionate about something then there will be a purpose behind it. And if you feel that you are passionate about something but you are not able to find the purpose behind it then please do self-analysis. There is surely something that you are missing out on. Munish Maya in his Instagram post took out few minutes to write about Purpose and Passion, as he feels that it is an important topic to be discussed with everyone. Mr. Maya started writing his post by making a statement, “Many people confuse passion with purpose. Others struggle to find both.”

Self-analyzing is a very tough job and it’s completely natural to get confused. Solving this problem Munish Maya says, “Passion & purpose are distinct. Passion is the drive, the energy that makes us feel good. Like they say, ‘do what you love.” People follow their passion to live a stress-free life where they can enjoy whatever the work they are doing. It is well said, ‘Follow your passion and there will not be a single day when you will have to work.’ Whereas the most asked question in relevance to passion, ‘What is the purpose?’ is answered very well by Munish

Maya in his same post, “Your purpose is the reason, your ‘Why’ behind what you do.” 

Passion and purpose go hand in hand. Munish Maya says, “From over a decade, I experienced, learned, evolved & developed new passions. They have changed my life & perspective in a great way.” Passion serves the purpose of life. Munish Maya himself followed his passion when he realized that he cannot do a 9-5 profile job, and look at him now, he is the 1st Global Brand Ambassador of India. His passion leads him to define the purpose of his life. The only purpose of Munish Maya’s life is to serve people by guiding and enlightening them about their lives.

This confusion between passion and purpose is not for the lifetime. To which Munish Maya explained by saying, “But the sweet spot is where your passion & purpose align.

One fuels your internal drive while the other maximizes your outward impact.” When both purpose and passion start to align then you will start gaining success and positivity in life.

Munish Maya describes it more beautifully, “And in the path of manifestation, Purpose fuels Passion. By focusing on your purpose, you align your work with your deepest drive- your passion.” If you are passionate about something in your life, then the purpose of your life is served.

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