Pakistan, July 1 -- Right after the new budget was rolled out, the government struck hard with over Rs100 billion in fresh taxes on thousands of imported items. The Federal Board of Revenue (FBR) quickly issued a series of Statutory Regulatory Orders (SROs), making these hikes effective immediately. This bold move aims to boost government revenue and narrow the growing trade deficit that has been troubling the economy.

Among the notable changes, imports of underwear and shoes now carry a 10% regulatory duty, hitting everyday consumer goods. Entertainment imports like foreign films and dramas face a steep charge of Rs 3,000 per minute, which could impact availability and prices. Artificial jewelry imports will be taxed at a hefty 32%, whi...