According to a recent statement released on Friday, Federal Minister of Finance and Revenue Shaukat Tarin has approved a tax exemption of 10% on the import of edible oil for the next two months.
Tarin approved the relief at a meeting in Islamabad, keeping in view the rise in edible oil prices in the international market as a reason.
The meeting, which was also attended by Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, Secretary Industries and Production, Chairman FBR, and other prominent officials, was presided over by the finance minister.
Additionally, the chair was informed that RBD palm oil monthly average retail prices are extremely unpredictable, having jumped nearly twice in the last year.