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Lahore: Pakistan Vanaspati Manufacturers Association (PVMA) on Sunday announced an immediate reduction in prices of ghee and cooking oil to provide some relief to masses. Central Chairman of PVMA Sheikh Abdul Waheed has directed all ghee and cooking oil producers to reduce prices immediately, so that the masses could get some relief.

The move will substantially reduce burden on the masses as annual production of commodity stands at 4.5 million tonnes. According to details, the price of palm oil appreciated in the international market by the beginning of this year which also hiked prices of ghee and cooking oil in Pakistan that are now being sold at Rs300 to Rs350 per kilogram.

The increased prices of this essential food item was putting pressure on buying power of masses which prompted Chairman Waheed to write letters to Prime Minister Imran Khan requesting a relief. He also held meetings with Finance Minister Shaukat Tarin, Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, Chairman FBR and other top officials.

Prices of ghee, cooking oil likely to rise

Waheed convinced the top government functionaries that reduction in taxes will provide relief to the masses and his efforts resulted in a waiver of three percent Sales Tax on this industry.

FBR has issued a notification in this regard which is to be implemented with immediate effect. As this move has reduced the cost of production of ghee and cooking oil; therefore, the PVMA decided to pass relief to the masses without any delay.

Chairman Waheed has thanked the PM, Tarin, Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar and Chairman FBR for their cooperation which has resulted in relief to the masses.

Copyright Business Recorder, 2021

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36 Comment(s)
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Amjad Hassan mirza Sep 20, 2021 11:25am
The poor people of this country have always suffered that is all.The dishonest and corrupt politicians live llike kings .
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Shiraz Khan Sep 20, 2021 02:21pm
@Amjad Hassan mirza, It shouldn't be good to blame only politicians it would be Hippocracy if didn't condemn the Powerful Peoples who make money behid the scene under the oath.
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Asad Sep 20, 2021 03:23pm
Politicians, judges, generals and the entrepreneur class , are all hand in glove and the poor masses watch the saga with utter helplessness
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MR. NASIR GULZAR Sep 20, 2021 04:16pm
NO price idea mentioned for the reduction by the Chairman Waheed . The FBR must ensure that the benefit of reduction of taxes should be passed through to the consumers without any reduction
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Sana ullah Sep 20, 2021 04:25pm
it is a good decision of PM SB for relief in costly items to poor people in our society. Those item which are used on daily basis to reduced the prices. we appreciate this step of government thanks.
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Nasrullah Sep 20, 2021 05:20pm
Price hike is mentioned but reduction is not in the article here.
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Nasrullah Sep 20, 2021 05:22pm
Price reduction is not mentioned in the article here. What does it mean?
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Gullible Sep 20, 2021 05:50pm
What a PR stunt by Sheikh Abdul Waheed. It appears as if he, not the government, is giving relief to masses. In doing so, he got the Sales Tax reduced by 3%.
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Altaf Ahmad Khan Sep 20, 2021 07:15pm
Govt also gives subsidies through Utility Stores but it is applicable only to such brands of oil and ghee which are of less quality and already cheaper than leading brands. Infact these companies supply perhaps to the utility stores beacaus these are not otherwise seen in the market. Therefore in my opinion all these subsidies are eaten up by Utility Stores people and such companies. Prices of main brands are more at utility stores than grocery stores of shopping malls. It is not yet clear how is this tax subsidy passed on to the masses whether main brands or ghost brands or all brands and in proportion?
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Yarmuhammad Sep 20, 2021 08:33pm
The new rates are given? What is reason. New rates are hid?
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Afzaal Sep 20, 2021 08:58pm
Masses will not get ultimate relief if someone tried to give, this relief money will go to price hiking mafias...
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Moazzam khan Sep 20, 2021 10:59pm
Now see
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Moazzam khan Sep 20, 2021 11:00pm
Now see,when the prices will go down...
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Public Voice Sep 20, 2021 11:08pm
The community suffering from these kind of price hike are the middle class comunity or safaid posh comunity, who can not bag not even afford Request to pm imran Khan pls also take a stand for these communities
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Tanveer Ahmed Sep 21, 2021 01:20am
@Public Voice, Dear PM please announce original price of oil & ghee. Because they aren't in poor people reach. This is my request. Because companies that price increase several time in your tanuar. Please look into this
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Faheem Ahmad Sep 21, 2021 03:29am
The companies wont reduce the prices as we all know reducing tax won't help us. We want solid reduction in actual prices from factor y
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Naveedmalik Sep 21, 2021 05:13am
If reduced price of cooking
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Aa Sep 21, 2021 06:58am
Hasbi Allahu wa naimal wakeel
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Amjad Hassan mirza Sep 21, 2021 07:19am
Just give me the price don't play games with the masses the most ignorant government I have seen in the last 55yrs.
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Nauman Rauf Sep 21, 2021 08:45am
Price reduction is not mentioned in article
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Rana Asif Ali Sep 21, 2021 12:10pm
Good step taken by the committe They must have take these kind of decision to relief the public
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Darwaish Sep 21, 2021 12:13pm
As the Dollar has swell up 4.5 % , It's going to be the same .... No relief expected.
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IMRAN Sep 21, 2021 12:27pm
IT IS AN OPEN SECRET THAT GOVERNMENT OFFICIALS AT ALL LEVEL FAILED TO PERFORM.....
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Ejaz Ahmed Sep 21, 2021 02:06pm
اس حکومت سے ریلیف کی کوئی ا مید نا رکھے۔یہ اللہ کا عزاب ہے جو ہمارے گناہوں کے سبب ہم پر مسلط ہوئ۔ اپنے گناہوں سے توبہ کر لو۔ عوام کے ساتھ ابھی بہت کچھ ہونا باقی ہے۔
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Owais Sep 21, 2021 04:16pm
Business community is the biggest mafia involved in price hike. The federal govt failed to control food inflation. The edible oil industry is an informal sector where neither factory workers are protected nor being compensated well rather factory owner n middle man making huge profit and all cost being recovered from masses.
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Rashid Sep 21, 2021 05:37pm
@Amjad Hassan mirza, Why putting blame of every wrong upon politicians .Why a politician who submits every 5 years before the masses in election will like to do so . All the pillars of this set up are involved and even public and all the elites.
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khan arif jadoon Sep 21, 2021 07:15pm
یہ سب ٹوپی ڈرامہ ہیے کتنا ریٹ کم کیا ہیے کچھ بھی نہیں لکھا وزیر خزانہ شوکت ترین سرف بھڑکیں مارنا جانتا ہیے دو دن پہلے بول رہا تھا آٹے کی قیمت بھی کم ہو رہی ہیے۔۔وزیر اعظم صاحب سے گزارش ہیے کہ اللہ کے واسطے نوٹس نہ لینا ورنہ آٹا اور تیل گھی ملنا بھی بند ہو جاۓ گا
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Iqbal Hussain Sep 22, 2021 12:33am
In Pakistan prices are always upward biased, never seen downward when after hike
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Jamal Sep 22, 2021 01:04pm
Only PM cant do any thing. All of his advisers and member of parlement are making money. Nobody is there to check them. No commette no check and balance.
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Syed Zulfiqar Ali Sep 22, 2021 03:08pm
Price hike from Rs. 160 to Rs.340 and above means in current regime. Lets see what reduction comes out, expectancy from past is of Rs.10 to 20 only.
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Tariq Rafiq Sep 22, 2021 05:59pm
How can chairman Mr.Waheed take the credit of reducing price , it seems to due to reduction of tax, what is the contribution of PVMA, if prices are reduced more then the tax benefit given by FBR and PVMA has also contributed their share only then one can appreciate PVMA. Had they mention percentage in price reduction may give them credit of public interest. This type of jugglery should not be echibited.
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Tariq Rafiq Sep 22, 2021 06:10pm
Good gesture provided reduction in price is mentioned . If reduction in price is limited to tax reduction by Govt. Then chairman PVMA should not claim that association is facilitating public. Mr. Waheed has to clearly mention details 1_ what were the original prices how much Govt. gave tax rebate and how much is the association''s/ producers contribution. Mearly giving statements to gain public sympathy is a topi drama.
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Sheikh Zaid Sep 22, 2021 08:52pm
Government has fail to fight with Mafia....
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Zeeshan akmal Sep 22, 2021 10:23pm
Responsibility of crunnt situation is poor administration of country
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Anwar Sep 23, 2021 06:41am
It is peanut as copared hiked.it should be minimum 15%
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Anwar Sep 23, 2021 06:45am
It is peanut against hiked previously.should b minmum 15%
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