KARACHI, July 8 Asia Pulse - Pakistan's food import bill this year islikely to be close to US$1.5 billion due to the import programme of onemillion tonnes of wheat, an increase in shipment of tea, spices, dryfruits and other edible items through formal import channels, and higherinternational prices of palm oil and pulses.

Pakistan ended the outgoing fiscal year with a total food import close to$900 million and an expected increase of $600 million in the currentfiscal year is bound to put current account balance under severe strain,analysts said.

Levy of 15 per cent sales tax on cotton seed oil in the current budget hashit the local oil extractors.

There is a fear that cooking oil industry may rely more on palm oil. Thepalm oil import bill during 03-04 stood at more than $560 million and thismay exceed $600 million in the current fiscal year.

(PPI)