PID

PR No. 222
Islamabad: March 25, 2022

Federal Minister for Finance and Revenue Mr. Shaukat Tarin presided over a meeting on edible oil today. Federal Minister for Industries & Production Makhdoom Khusro Bakhtiar, Secretary Industries & Production, Chairman FBR and other senior officials attended the meeting. The Chair was apprised that monthly average retail prices of RBD palm oil are highly volatile and have increased almost twice comparing with last year. Currently, in the month of January, there has been significant increase in its prices approximating 1351 per ton. So, to deal with the expected short fall in the month of Ramzan due to hike in prices, Federal Minister for Finance and Revenue approved the tax relief of 10% on import of edible oil for the month of April and May. The tax relief measure on import of edible oil is being undertaken for short term to ensure smooth supply of edible oil to consumers as 90% of nation’s annual demand for ghee/cooking oil is dependent on imported inputs.

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GOVERNMENT OF PAKISTAN PRESS INFORMATION DEPARTMENT

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PR No. 222 Islamabad: March 25, 2022

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PR No. 222
Islamabad: March 25, 2022