January 16, 2007	Tuesday	Zilhaj 25, 1427

ISLAMABAD, Jan 15: Pakistan Vanaspati Manufacturers Association (PVMA) has said that the government is eating up Rs18.77 per kg in terms of duty and taxes on edible oil and the price of ghee and cooking oil can only come down if it sacrifices its own revenue. Secretary PVMA Dr Ghulam M Samdani in a statement said the cut in duty and taxes would result in price decline of the commodity and the PVMA would pass on the benefit to the consumers.

He hoped that the government would accede to the PVMA demand failing which no reduction in the price of vegetable ghee, cooking oil was possible as the PVMA member units are operating on a very marginal profit, and are unable to reduce the price.

He said that during a meeting with the PVMA delegation, the minister for industries, production and special initiatives expressed concern over the continuous rise in the price of vegetable ghee and cooking oil The minister was informed that if the government reduced the customs duty on imported edible oils by Rs5 per kg, the PVMA member units would pass on the same benefit (Rs5 per kg) to the consumer. However no agreement was reached on this point, he added.