ECC refuses to allow regulatory duty on edible oil

The Economic Coordination Committee (ECC) of the Cabinet Monday declined to impose a regulatory duty on the import of edible oil averting a further increase in prices of ghee and oil, reported 24NewsHD TV channel.   

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of ECC on Monday that sent back the summary of the imposition of regulatory duty on the import of edible oil. The Ministry of Commerce had also objected to the further burden of regulatory duty on edible oil.

The Ministry of National Food Security withdrew the summary in the meeting. It has been asked in the meeting that the stakeholders will be consulted on summary again and after consultation, a final decision will be taken in this regard.