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Vegetable ghee sale drops by 25 percent
KARACHI (April 27
2004): There has been a large-scale slump in the
vegetable ghee market due to a number of
undesirable concessions granted by the government
to the importers of edible oil in Fata and Pata
areas.
The sale of vegetable ghee is reported to have
declined by about 25 percent.
The industry sources said the palm oil importers
in Fata and Pata have now stepped up their sale of
imported oil in big cities instead of taking it to
their own destinations, adding these importers
have also been given sales tax exemption to the
extent of 20 percent and 3 percent exemption in
advance income tax.
Sources said this issue is being brought to the
notice of the government with the appeal that
importers in Fata and Pata should be treated at
par with the importers in other areas of Pakistan,
adding but due to political considerations, the
government unexpectedly remains silent over this
matter.
The sources said this matter has now reached such
a height that many smaller vegetable ghee units
have pulled down their shutters for good.
It is also reported that importers of palm oil
have been adversely affected due to the increase
in the local production of sunflower oil.
Last year, the local production of sunflower oil
was reported at about 90,000 tonnes, but this year
its production has touched the figure of 0.2
million tonnes, the sources said, adding the local
sunflower oil is cheaper than the imported palm
oil.
Once again, a strong representation is being
prepared by Vanaspati Manufacturers Association
which will be presented to the commerce, finance
and industry ministers.
Courtesy Business Recorder
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Pakissan.com; Advisory Point
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