No immediate impact on prices of essential kitchen items

Sunday, June 3rd, 2012 10:30:15 by

ISLAMABAD: There was no immediate impact on prices of essential kitchen items following the budget 2012-13; however prices of food items may witness sharp increase soon as government has not taken any measure to control or reduce inflation. Traders, wholesalers and people belonging to different walks of life rejected the budget 2012-13, saying that government has not announced any measure either to reduce or control the current wave of inflation to give relief to the public.
Talking to Business Recorder, they said that suppliers and manufacturers of different food items had increased prices on an entire range of daily use items before the budget on the expectation that the government would raise taxes on these items.
Quoting media reports, they said that there were proposals for increasing excise duty on ghee and imposition of 16 % sales tax on sugar in the budget 2012-13, due to which profiteers and hoarders stocked these commodities in advance. This action of the hoarders resulted in an increase of ghee and cooking oil prices by up to Rs 5 per kg/ litre before the budget. The price increase was different for different brands: Dalda cooking oil/ghee prices increased from Rs 200 per litre/kg to Rs…
Islamabad News Sources

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