ISLAMABAD: The prices of ghee and edible oil will go up by Rs13 to Rs18 per kg from July 1.
In this regard, the Pakistan Vanaspati Manufacturers Association (PVMA) has already informed Prime Minister Imran Khan and Finance Minister Shuakat Tarin that the prices will go up in written a letter.
The reason for the increase in ghee prices is the imposition of new taxes in Finance Bill 22-2021. In this regard, the text of the letter from the PVMA association has warned that if the taxes were not withdrawn, the prices of ghee and other types of edible oil would increase by Rs13 to Rs18 per kg from July 1.
The committee had directed the PVMA to resolve the issues with the officials of the Ministry of Finance. However, the meeting of the PVMA with the Secretary of Finance also proved worthless after which a letter has been written by the association to the premier and the Finance Minister.
It is to be noted that the supply has been cut off by the Pakistan Flour Mills Association due to a nationwide strike against a hike in tax and sales tax which may lead to a flour crisis and increase in prices. Chairman Pakistan Flour Mills Association Chaudhry Muhammad Yousuf further said that sales tax on bran has never been imposed in the country but the imposition of 17 percent sales tax on bran in the current budget would increase the price of flour by Rs 5 per kg.
