Sunday, April 14, 2024

Prices for ghee and cooking oil will rise on July 1st

Ghee and cooking oil prices would rise by up to Rs18 per kilogram/litre on July 1 as a result of the government’s budgetary taxation measures in the finance bill.

The Pakistan Vanaspati Manufacturers Association (PVMA) said on Sunday that the prices of various brands would increase from Rs13 to Rs18 per kilogram/litre, depending on market retail rates.

The local currency devalued by Rs5 against the US dollar, according to PVMA Chairman Abdul Waheed, while the budget levied levies of Rs18 per kg. The prices of ghee and cooking would not be reduced in the foreseeable future due to the rupee’s depreciation against the US currency and taxing initiatives.

The government currently levies a tax of Rs 90 per kilogram/litre on ghee and cooking oil, the highest in the region. In addition, unregistered purchasers, wholesalers, and retailers would be charged an additional 3% sales tax on ghee and cooking oil. There will be a 0.1 and 0.5 percent withholding tax, with a 90 percent input sales tax adjustment allowed.

Taxes on vital food items have been repealed, however taxes on ghee and cooking oil industries have been maintained, according to the finance minister’s address on the House floor, a discriminating action, according to the PVMA.

The Punjab Healthcare Commission (PHC) has shut down 68 quack companies in ten districts throughout the province in the last week. While continuing their anti-quackery effort in various cities, PHC enforcement teams investigated 543 treatment centres.

Ameer Safdar Gynae Centre, Anwar Medical and General Store, Madina Clinic, Alshifa Surgical Hospital, Al-Huda Clinic, and Maternity Store, as well as illicit labs and lab collecting centres, were all shut down in Lahore. On the other hand, due to ongoing campaigns against quacks, 182 quacks have abandoned their unlawful practise of treating patients, while qualified physicians have begun providing service in 38 centres.

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