Pakistan Vegetable Manufacturers Association (PVMA) Chairman Sheikh Abdul Waheed while announcing immediate reduction in the price of Cooking Oil and ghee has said that Instructions have been issued to reduce prices immediately, which will bring significant relief to the people.
According to private TV, due to the increase in the prices of palm oil in the world market during this year, the price of ghee and cooking oil in Pakistan has reached the highest level in history. The price of ghee and cooking oil has gone up from Rs. 300 to Rs. 350 per kg, which has increased the burden on the people. He held several meetings with top officials, including Khusro Bakhtar, and convinced them that a modest reduction in taxes could provide relief to the people without any significant burden on the national exchequer. As a result of their efforts, the government abolished the 3% forward sales tax imposed on the industry, while the FBR has also issued a formal notification in this regard, which came into force immediately.
PVMA Chairman Sheikh Abdul Waheed said that the annual production of ghee and coking oil in Pakistan is about 4.5 million tonnes and the reduction in taxes by the government will bring significant relief to the people for which we are grateful to Prime Minister Imran Khan, Minister. Finance Minister Shaukat Tareen and Industry Minister Khusro Bakhtar.
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