The State is losing an estimated average of Rs. 450 million in revenue each month in its effort to subdue a rise in the cost of living due to higher world market prices.
Finance Ministry officials say the current tax and import duty concessions could be met with higher duties for non-essential commodities that do not affect basket of commodities consumed by the common man everyday. rn
rnOfficials also say that this is only one of the many measures being considered to bridge the revenue short fall this year and that a final decision is far from being finalized.rn
rnAny planned tax and other tariff hikes to bridge the States revenue shortfall would be scheduled for after July, officials added, but gave no reasons for the significance for the mid year date.rn
rnThe state is currently loosing Rs. 150 mn in revenue from the wheat floor industry, where international prices rises are being cushioned by the government to maintain flour and bread prices at current levels. rn
rnFertilizer importers also