Printed on Sun Aug 07 2022 6:39:49 PM

Government lifts VAT on imports of cooking oil, sugar and gram

Staff Correspondent
National
Government lifts VAT
Finance Minister AHM Mustafa Kamal has said that the tariffs on edible oil, sugar, and gram have been lifted to keep the prices of essential commodities affordable during Ramadan.

A meeting of the Cabinet Committee on Public Procurement and the Cabinet Committee on Economic Affairs was held on Thursday, under the chairmanship of the Finance Minister. He took part in the meeting virtually. The minister said this in response to a question from reporters after the meeting.

The finance minister said, "We have lifted the tariff to keep the prices of commodities at a tolerable level. The government is providing the support that it can."

"We don't always need TCB, we don't need it all year round," he said.

"When the need arises, you have to make arrangements for it. So I can say that the government is doing what it needs to do."

Asked which tariffs have been lifted, he said tariffs on essential commodities including edible oil, sugar, and gram have been lifted. Originally, the tariffs for the products that are most needed during the month of Ramadan have been withdrawn.

Because everyone is a consumer of these. 15 percent VAT has been revoked at the soybean production stage and 5 percent at the consumer level.

Voice TV/IA
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