ISLAMABAD:- Chairman Businessmen Panel and Pakistan Business Group Alliance of FPCCI Mian Zahid Hussain, FPCCI Presidential Candidate Abdul Rahim Janoo, FPCCI Candidate for SVP Mian Anjum Nisar and Chief Convener Election Cell Syed Abdul Waheed Shah on Tuesday said that the government should consider reducing taxes and duties on import of edible oil to promote this sector. The import duty, sales tax and other government revenues are highest in Pakistan compared to neighbouring countries, therefore problems of edible oil sector should be recognised and resolved on a fast track basis, they said. –NNI

They said that Pakistan imports around 2.1 million tonnes of Palm oil products worth $1.8 billion from Indonesia and Malaysia to fulfill domestic consumption of around 3.2 million tonnes of ghee and cooking oil annually. Reduction in the taxes will encourage vanaspati manufacturers to invest in oilseed production with an aim to achieve self-sufficiency and even exports in the longer run, they added.