Pakistan removed additional custom duty on import of palm oil in a bid to provide relief to masses
Islamabad May 29 2022: The Economic Coordination Committee allowed removing 2% Additional Custom Duties on import of Palm Oil for shipments originating from all sources except Indonesia for 10-20 June, 2022, subject to approval of Federal Cabinet.
Government will keep providing ghee at a discount of Rs100 per kg in country’s utility stores.
Country imported 2.5 million tons of palm oil from July 2021 to April 2022, which is 8 % lower when compared with imports of 2.7 million ton during the same period last year. However, the country has paid 45% more in terms of dollars for importing this quantity.
Prices of vegetable ghee in the local market surged 60.65% to Rs482 per kg, as per statistics published by the Government body.
Ministry of Industries and Production submitted a summary on the continuation of PM relief package – 2020 for the months of May and June, 2022 through USC. The ECC after deliberation allowed continuation of existing subsidy for two weeks on essential commodities (Atta, Sugar, Rice, and Pulses), and Rs. 100/kg subsidy on Ghee at USC.
Finance Division will also release the outstanding amount on account of subsidy under PM Relief Package – 2020 approved by the ECC for the previous months.
