Country has sufficient edible oil stocks, says Qamar

Published May 1, 2022
THE Indonesian government has assured Pakistan of resuming palm oil exports from the third week of May.—Dawn file photo
THE Indonesian government has assured Pakistan of resuming palm oil exports from the third week of May.—Dawn file photo

ISLAMABAD: The Indonesian government has assured Pakistan it will resume supply of palm oil in the third week of May, Commerce Minister Naveed Qamar said on Saturday.

The meeting of the Prime Minister’s Task Force on Supply of Palm Oil, chaired by Mr Qamar at the Trade Development Authority of Pakistan to review the supply of the commodity in the domestic market, noted that the edible oil stocks in the country are sufficient for the next two months’ consumption and there is no need for panic buying or hoarding.

However, it recommended preemptive measures to manage the supply chain.

The task force was constituted recently to ensure there are no disruptions to the supply of palm oil in the local market.

An official announcement said that the supply of palm oil from Indonesia had been temporarily halted owing to its domestic issues. However, Mr Qamar said that he was reassured by his Indonesian counterpart that the supply would be resumed by the third week of May.

Commerce Secretary Sauleh Faroqui informed the participants that the matter is being taken up at the highest level and the Ministry of Industries and Production and Ministry of Foreign Affairs are also on board to resolve the issue.

A representative of the Pakistan Vanaspati Manufacturers Association informed the Federal Minister for Commerce that at the current stock levels, the market demand could be met for another two months. He further added that more oil will be imported from Malaysia, and other options will also be explored, and hoarding and smuggling of edible oil will not be allowed among members.

Published in Dawn, May 1st, 2022

Opinion

Editorial

Warming ties
05 Jul, 2022

Warming ties

BILATERAL ties with the US are clearly on the mend after an extensive rough patch under the PTI government. While ...
LNG emergency
Updated 05 Jul, 2022

LNG emergency

The problem is that Pakistan does not have sufficient cash at the moment to buy even a single LNG cargo at present prices.
The invisible half
05 Jul, 2022

The invisible half

WHAT better illustrates the Afghan Taliban’s misogynistic and mediaeval worldview than the fact that not a single...
Wise counsel
Updated 04 Jul, 2022

Wise counsel

Fuelling the fires of communalism for petty political gains is dangerous and can have a long-lasting impact on India’s stability.
Hazardous waste
04 Jul, 2022

Hazardous waste

GIVEN we have not yet developed streamlined systems for managing locally produced hazardous waste, we are inviting...
Mob ‘justice’
04 Jul, 2022

Mob ‘justice’

OVER the past few days, a string of deadly incidents has been reported from Karachi in which enraged mobs have...