Islamabad, July 12: Days after Pakistan imposed IMF-directed new taxes in the 2024-25 budget, the prices of cooking oil and ghee have shot up in the country, adding to the woes of the common man.
The prices of cooking oil and other food items have surged due to the new taxes, with cooking oil seeing an increase of Rs 30-40 per kilogram.
This comes as the prices of flour went up following the flour mill owners’ strike against the imposition of a 2.5 percent withholding tax in the budget 2024-25 entered its second day on Friday.
Additionally, the prices of powdered milk, packaged milk, tea, and other food items have also risen in the month of July.
Here are the latest prices for the cooking oil and ghee according to the brand:
Rafhan Corn Oil 5 litre: Rs4,900
OK Cooking Oil 5 litre: Rs2,025
Dalda Cooking Oil 5 litre: Rs2,585
Dalda Sunflower Oil 5 litre: Rs2,585
MEZAN Cooking Oil 5 litre: Rs2,400
Dalda Cooking Oil 1 litre: Rs525
Eva Cooking Oil 5 litre: Rs2,590
Seasons Canola Oil 3 litre: Rs1,351
Dalda Canola Oil 5 litre: Rs2,585
Sufi Canola Oil 5 litre: Rs2,600
Habib Cooking Oil 5 litre: Rs2,445
Sufi Sunflower Oil 5 litre: Rs2,650
With the strike by flour mill owners, the prices of 15-kilogram flour bags have increased by Rs 100 to Rs 180, reaching Rs 1,330 to Rs 1,500.
Similarly, the prices of 10-kilogram flour bags have gone up by Rs 50 to Rs 150, reaching Rs 900 to Rs 1,000.
On the other hand negotiations between flour mill owners and the Federal Board of Revenue (FBR) have failed, with the FBR chairman refusing to withdraw the withholding tax.
The chairman of the Flour Mill Association Shafeeq Anjum said that the strike will continue until demands are met.
He said that there are fears of a widespread flour crisis in the next two days, with wholesale dealers having only a two to three-day stock of flour.
Earlier, the flour mill owners announced a strike on July 11 against the imposition of a 2.5 percent withholding tax in the budget 2024-25
The flour mill owners said that due to increasing electricity bills, they are already facing difficulties in running their business.
“The additional 2.5 percent withholding tax will further ruin our business,” they added.
While demanding the government withdraw its decision to impose the tax, the flour mill owners announced to go on strike on July 11.
Other wheat products are also expected to see significant price hikes, with fine flour potentially reaching Rs 460 per sack.
