ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Ishaq Dar has said that the outstanding public debt of Pakistan was Rs49.2 trillion at the end of June 2022.

In a written reply to a question of a member of the National Assembly during the question hour session on Monday, the minister said that there is Rs31.04 trillion domestic debt and external debt Rs18.16 trillion.

In reply to another question, the minister said that the sales tax at 17 per cent is applicable on bakery items throughout the country.

He said that the input tax paid on procurement of raw materials and utilities is adjustable against output tax.

He said; however, vermicillies, sheer-mal, bun, and rusk excluding those sold in bakeries and sweet shops falling in the category of Tier-1 retailers are exempted under the Sixth Schedule to the Sales Tax Act, 1990.

Copyright Business Recorder, 2022


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