LAHORE, June 23: Industrialists were swift in raising the prices of essential commodities taxed in the federal budget but are reluctant to reduce the rates of the items allowed tax concessions.

The prices of vegetable ghee, cooking oil and milk in soft packs were raised a day after the announcement of the budget but beverages’ prices are proposed to be revised from July 1.

Contrary to the announcement of Federal Finance Minister Shaukat Aziz that ghee and cooking oil rates would go up by Rs2 to Rs3 per kg as a sequel to the imposition of 15 per cent Customs Duty on edible oil imports, one of the multinational companies has enhanced the prices by Rs10 to 15 per kg. The prices of the low-standard ghee have been reduced by Rs15 per 16 kg canister, on the other hand.

Prices of standardized milk in soft packs have been raised by Rs2 per litre but the rates of tetrapacks remain unchanged. These packs already costs Rs12 per litre more than the loose milk.

The beverage manufacturers are, however, reluctant to reduce the rates of their products despite three percent reduction in exise duty and continue to charge the old prices till date. The marketing department of a beverage company bottling a popular international brand said that a review of the prices was underway and would be effective from July 1.