Govt decides to impose regulatory duty on imported edible oil

The government has decided to impose regulatory duty on imported edible oil in a bid to promote self-sufficiency at the local level and boost exports.

Regulatory duty of up to 5 per cent will be imposed on imported edible oil and a 2 per cent additional import duty will be applicable as well. Moreover, a 17 percent sales tax will also be levied.

According to sources inside the Ministry of Food Security, sunflower and canola will be cultivated on 600,000 acres at the local level, and local production will be protected by increasing taxes due to the decrease in the price of imported edible oil.