The new prices come into effect immediately
The prices of ghee and cooking oil are being cut Rs8 to Rs10 per liter, announced the chairman of the Pakistan Banaspati Ghee Manufacturers Association Sheikh Abdul Waheed Tuesday.
The price of ghee and cooking oil had gone up from Rs300 to Rs350 per kg this year after the increase in the prices of palm oil on the international market, after which PVMA Chairman Sheikh Abdul Waheed sent letters to Prime Minister Imran Khan. He met officials, including Finance Minister Shaukat Tarin and Minister of Industries Khusro Bakhtiar, after which the government abolished the 3% additional sales tax imposed on the industry.
The FBR has issued a notification about the new sales tax which has come into effect immediately.
Sheikh Abdul Waheed has said that the annual production of ghee and cooking oil in Pakistan is about 4.5 million tons.