Price of Cooking Oil to Increase by Rs 5 per kg – Research Snipers

Price of Cooking Oil to Increase by Rs 5 per kg

price of cooking oil

The Pakistan Vanaspati Manufacturers Association (PVMA) on Monday informed that the recent increase in gas tariff would cause an increase in the price of cooking oil and ghee by Rs5 per kg.

The PVMA has said that more the prices of the ghee would be increasing so would the epidemic of malnutrition would increase in the nation.

Sheikh Abdul Waheed—the Chairman of PVMA said that an increase of thirty per cent in the tariff of gas would result in increasing the price of sixteen-kilogram ghee by rupees eighty, forcing the government to reverse its decision in order to provide ease to the already struggling public.

He further said that the per capita usage of ghee and cooking oil in Pakistan is already nearly half of the global average which would be going down much further following the hike in the price of this vital item.

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He also said that the higher prices of ghee would decrease its consumption, hence the authorities must take notice of this issue of food security by keeping a tag on the gas prices.

The chairman of PVMA said that the increase in the tariff of gas would not only be reducing the production and consumption but it would also be affecting on the country’s exports alongside making way for struggling activities.

He asked the government to decrease the tariff on natural gas for Vanaspati makers to rupees six hundred per MMBtu from rupees seven hundred and eighty per MMBtu.

Waheed added that the government must strive to keep a balance in the prices of edibles, in accordance with other nations, and should apply additional taxes and duties on the import of luxurious items for generating more profit.

He added that the local exploration was not given much attention for the last five years while the import of LNG was encouraged, which caused an increase in the cost of doing business within the country.

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