As per the decision from All Pakistan Vanaspati and Ghee Manufacturers Association, ghee and vegetable will be reduced by average Rs. 5/ litre. APVMA Central Chairman Sheikh Abdul Waheed called on all ghee and vegetable oil producers to cut prices immediately so that the masses can get relief.
This reduction will significantly reduce the burden on the masses, since the annual consumption of Oil/Ghee stands at 4.5 million tons. According to the details, earlier this year, the price of palm oil on the international market increased, which also led to an increase in the price of ghee and vegetable oil in Pakistan, which are now sold from 300 to 350 rupees per kg.
Rising prices for these staple foods affected the purchasing power of the masses, prompting President Wahid to write letters to Prime Minister Imran Khan asking for help. He also met with Finance Minister Shaukat Tarin, Federal Minister of Industry and Manufacturing Makhdoom Khusrov Bakhtiar, FBR Chairman and other senior officials.
This helped in getting reduction of Sales tax by 3%. Resultantly, the prices will be adjusted.
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