In the wake of Pakistan’s 2024-25 budget, which introduced aggressive taxation measures aimed at meeting International Monetary Fund (IMF) demands and stabilizing the economy, the prices of electronic items have surged dramatically. Essential appliances like air conditioners, refrigerators, and LED TVs have seen price hikes of up to 30%, significantly impacting consumers and businesses alike.
For instance, LED TVs now cost Rs5,000 to Rs6,000 more, while a 1-ton air conditioner commands Rs85,000, marking a substantial increase. Similarly, smartphones, laptops, desktops, cameras, and audio equipment have all become more expensive, straining household budgets and business operations.
The government defends these measures as crucial for securing long-term economic stability. By bolstering tax revenues, they aim to fulfill IMF requirements and lay the groundwork for economic equilibrium. However, the immediate consequence has been a burden on everyday consumers and enterprises, grappling with higher living costs and operational expenses.
This economic strategy, while optimistic about future stability, presently poses challenges. Elevated prices may curtail consumer spending on electronics, potentially dampening market dynamics and overall economic growth. Nonetheless, the government remains steadfast in its belief that these measures will pave the way for a more resilient economic landscape in the future.