LAHORE: Ghee and cooking oil are among the most consumed food items in Pakistan and their prices have seen a decline in recent weeks as inflation has eased following measures taken by the new government.
As per the details, the prices of both the commodities came down by Rs 75 per kg, which is a relief to the inflation-stricken public in the country.
However, cooking oil and ghee prices are expected to rise after the federal budget for the financial year 2024-25 as the government has planned various taxes in line with International Monetary Fund (IMF) conditions.
The government is likely to raise various taxes or increase the rates of existing taxes to collect an additional revenue of Rs 2000 billion in the next financial year.
Reports have said that the government may increase the sales tax rate by one percent to collect additional tax revenue. If this measure is approved, inflation will increase which will ultimately affect the prices of cooking oil and ghee in Pakistan.
Cooking Oil and Ghee Prices after budget 2024-25
Because the new budget proposals will come into effect from July 2024 after approval by Parliament. If the proposed 1 percent increase in sales tax rate is approved, the prices of ghee and cooking oil will increase accordingly.
Current price of cooking oil and ghee in Pakistan
Following the fresh changes, Brand A cooking oil is now priced at Rs 525 per liter after a drop of Rs 75, while Brand A ghee saw a drop of Rs 25.
Brand B ghee and cooking oil prices have dropped by Rs 70 to Rs 380 per litre.
Comments are closed, but trackbacks and pingbacks are open.