27/05/2008 (Daily Times, Pakistan), Islamabad - Pakistan Vanaspati Manufacturer’s Association (PVMA) Monday demanded the government to rationalise the customs duty and other taxes on imported edible oil in the annual budget 2008-09 in accordance with the increase/decrease in their prices in international market.

Talking to Daily Times, Chairman PVMA, Abdul Waheed proposed the government to levy regulatory duty instead of present fixed customs duty on imported edible oils which should increase /decrease in proportion to the changes in the price of imported edible oils in the international market.

He said the ghee/ cooking oil prices were out of reach of common person and demanded that the government reduce sales tax and duties in the annual budget 2008-09 so that prices might come down.

Due to higher international prices, the manufacturers of vegetable ghee / cooking oil were unable to control the prices and as such there was no option other than that the government reduces the taxes. Presently, he said the total duties / taxes paid by vanaspati manufacturers were around Rs 26,000 per tonne. The PVMA, he said therefore, proposes the government to fix the FED on imported edible oils at the level of C&F prices of RBD palm olein as July 2006. He said the PVMA also proposes that a reduction of Rs 3,000 per tonne in the customs duty on the RBD palm oil/ palm olein be made.

The PVMA chairman said another proposal for the annual budget was for the enhancement of customs duty on import of vegetable ghee. staff report