Business

Cooking oil, ghee prices set to rise ahead of budget 2024-25; Check latest rates here

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Digital Desk

2 years ago

ISLAMABAD: The consumption of cooking oil and ghee in Pakistan stands out compared to other nations due to the country’s large population and diverse culinary preferences.

The prices of ghee and cooking oil have seen a significant decline in Pakistan in recent weeks as inflation in the country eased. The price of oil and ghee has decreased by 70 to 75 rupees during a month providing a must-needed relief to inflation-hit citizens.

However, the rates of ghee and cooking oil are expected to rise after the upcoming federal budget for Fisacal Year 2024-25. The decision will come after the government has planned to impose additonal taxes on the direction of International Monetary Fund (IMF).

As the federal government is all set to unveil the budget 2024-25, the government is likely to impose various taxes or increase rate of existing taxes to collection additional revenue of Rs2,000 billion. The new proposed federal budget of Rs18,900 billion will be based on a deficit of Rs9800 billion.

Reports said the government is likely to increase the sales tax rate by one percent to collect additional revenue in wake of taxes. The move, if approved, will increase the inflation that will ultimately affect the cooking oil and ghee prices in Pakistan.

According to the details, the upcoming budget plans to impose 18% GST on hundreds of items, including imported food, milk, tea, sugar, rice, flour, packed milk, and stationery as the international lender has asked Islamabad further to reduce the sales tax exemptions for fresh loans.

Cooking Oil, Ghee Price 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.

Brand	Size/ volume	Price
Dalda	1KG	Rs690
Habib	1KG	Rs690
Meezan	1KG	Rs580
Dalda	3KG	Rs2049
Habib	3KG	Rs1950
Meezan	3KG	Rs100
Dalda	5KG	Rs3350
Habib	5KG	Rs3450
Meezan	5KG	Rs4550
Dalda	10KG	Rs6800
Habib	10KG	—
Meezan	10KG	Rs7950

Cooking oil, Ghee Prices in Pakistan after budget 2024

As the new budget proposals will come into effect from July 2024 after the approval. If government imposed additonal taxes, the inflation will increase, ultimately rising the cooking oil and ghee prices in Pakistan.

Digital Desk