LAHORE: Pakistan Vanaspati Manufacturers Association (PVMA) jacked up the prices of ghee and cooking oil from Rs18 to Rs30 per kilogram due to the budgetary taxation measures made by the government through finance bill.
According to details, no respite has been seen in the prices of essential commodities as edible oil and ghee rates were increased by Rs30 per kilogram. The ghee supply to the state-owned utility stores was also closed as the supplies will be resumed following the new prices.
The manufacturers claimed that cooking oil and ghee prices were jacked up after the government imposed three percent additional sales tax. The price of executive grade edible oil was increased from Rs310 per kilogram to Rs328 per kg while the rate of grade two cooking oil was the hike from Rs290 per kg to Rs320 per kg.
In June, the ghee mill owners had threatened to shut ghee factories across the country to protest against the tax exemption given to FATA and PATA industries by the federal government.
Former PVMA chairman Sheikh Amjad Rasheed had said that it is impossible to run the ghee mills after the provision of tax exemption to FATA and PATA industries by the federal government.
Ex-President PVMA Sheikh Umar Rehan had claimed that the new budget became a disaster for the ghee and oil industry instead of a relief. Rehan had claimed that the decision will cause a financial loss worth Rs160 million by the imports of edible oil, whereas, the tax exemption to FATA and PATA industries will result in the closure of local industries and unemployment of millions of labourers.