Ballpoint pen prices likely to increase

Ballpoint pens, an important element of education, are likely to become costlier in the next fiscal year as the government has proposed to impose Value-added Tax (VAT) on the goods.

The finance minister AHM Mustafa Kamal on Thursday at the National Parliament proposed a 15 per cent VAT on ballpoint pens at the manufacturing level.

“In order to increase revenue collection in the fiscal year 2023-24, I present the following proposal to this August House.  I propose to impose 15 percent VAT on ballpoint pens at the manufacturing stage,” Kamal said in his speech while placing the budget in the parliament.

The minister also proposed to impose a 5 per cent VAT on software production and customization services.