Prices of cosmetics sky rockets in Pakistan

Following a new wave of taxes, the prices of cosmetics have sky rocketed as well with an increase of up to 55 per cent witnessed in the market.

Noticeably, the prices of nail polishes, skin foundation creams, and perfumes increased as the federal government implemented new regulatory duties.

Under the latest SRO.928(I)/2024 issued by the Federal Board of Revenue, imported cosmetics will now face a substantial 55% regulatory duty.

Moreover, 20% increased on perfumes and sprays regulatory duty, while essentials like shaving cream and soap will see a steep increase to 50%.

The imported jewellery has also been swelled to 45%, and various clothing items including jackets, trousers, and shirts will now face higher taxes.

The decision aims to bolster local manufacturing and reduce dependency on imports in line with the government’s economic policies.