ISLAMABAD: Pakistan Vanaspati Manufacturers Association (PVMA) on Monday said the price of ghee and cooking oil will jump up to Rs 18 from July 01 due to the recent budget measures. The prices of different brands will jump from Rs 13 to Rs 18 depending on their respective retail prices in the market, said Chairman PVMA Abdul Waheed. He said that local currency has lost Rs5 against US dollar while taxes to the tune of Rs18 per kg have been imposed in the budget therefore there will be no price reduction in the near future. He said that the government is getting almost Rs90 tax on per kilogram of ghee and cooking oil which are highest in the region, he informed. Abdul Waheed said that three percent additional sales tax has been imposed on the sale of ghee and cooking oil to unregistered buyers, whole-sellers, and retailers will pay 0.1 and 0.5 percent withholding tax while input sales tax adjustment up to 90 percent has been allowed. Online
