Ghee and Cooking Oil Prices to Increase from July 1

Ghee and cooking oil prices are expected to increase due to the budget taxes (2021-22).

The Pakistan Vanaspati Association of Manufacturers (PVMA) claimed that from 1 July 2021, the prices might increase by as much as 18 rs. per kg.

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The PVMA chairman, Abdul Waheed, stated that, depending on retail prices, prices for different ghee and cooking oil brands may increase by Rs 13 to 18.

He added, while the Rupee of Pakistan has decreased by almost Rs 5 vs the US Dollar, taxes on oil and ghee products have also been imposed and hence price reductions shortly are not likely.

Waheed said that the government already has the highest ghee- and cooking oil tax of the region, which stands at about Rs. 90. It has also suggested the abolition of the extra sales tax so that prices of essential foods are stable.

Abdul Waheed said the final budget statement by the Finance Minister showed that taxes on foods vital were abolished but ghee and cooking oil taxes were maintained, a discriminatory decision.

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