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LAHORE: Ghee and cooking oil are among the most consumed food items in Pakistan and their prices have seen a decline in recent weeks as inflation has eased following measures taken by the new government.
The prices of both the commodities fell to Rs 75 per kg, which is a relief to the inflation-stricken public in the country.
However, prices of cooking oil and gin are expected to rise after the federal budget for fiscal year 2024-25 as the government has planned various taxes in line with International Monetary Fund (IMF) conditions.
The government is likely to raise various taxes or increase the rates of existing taxes to collect an additional revenue of Rs 2000 billion in the next financial year.
Reports have said that the government may increase the sales tax rate by one percent to collect additional tax revenue. If this measure is approved, inflation will increase which will ultimately affect the prices of cooking oil and ghee in Pakistan.
Brand A oil has become cheaper by Rs 75 to Rs 525 per liter, and Brand A ghee has reduced by Rs 25 to Rs 525. Similarly, Brand B ghee and oil are being sold at Rs 380 per liter after being cheaper by Rs 70.
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