In the wake of hike in palm oil prices in global market, cooking oil and ghee prices register big jump in Pakistan, reported 24NewsHD TV channel.
Across the country, all brands have increased prices of cooking oil and ghee from Rs40 to Rs50 per kilogram.
Umar Rehan Sheikh, Chairman Banaspati Manufacturers Association told media that the price of palm oil in the international market has increased by $300 per tonne. He further claimed that palm oil price has increased from $900 dollars to $1200 per ton in the global market during the last two months.
Omar Rehan said in the wake of hike in global market, oil prices are being increased in Pakistan. He urged the government to announce decrease in taxes for the sake of masses.
Umar Rehan said federal government is charging Rs 100 per kg tax on oil and ghee. He appealed Finance Minister to announce reduction in tax on ghee and oil. He said Pakistan imports 3.2 million tons of palm oil annually while the total demand of the country is 4.5 million tonnes.