After a certain gap of a month, the government of Pakistan has decided to cut GST and customs duty by half for edible oil. Moreover, with an additional reduction in 2% customs duty to reduce the price by 45 to 50Rs per kilogram of edible oil.
The minister of planning and development Asad Umar said during a news conference, “We have decided to reduce its [edible oil] price by Rs45-50 per kg by reducing GST from 17 to 8.5pc, customs duty from Rs10,000 per tonne to Rs5,000 and abolish 2pc additional customs duty to provide relief [to the people],”
Furthermore, explained that the relief on the inflationary trend would not be present in the next 3 to 4 months. Explaining that the forecasts about the decline in prices are different. He explained, that the prime minister will most certainly announce a subsidy plan for major targeted goods for the people in the coming days.
