The National Board of Revenue has extended exemption on VAT for import of cooking oil for four months to keep prices low during Ramzan when demand increases.
According to a notice published on Tuesday, traders will be able to import cooking oil by paying 5 per cent VAT till April 30.
VAT exemption of 15 percent on production of soyabean and palm oil and 5 percent on marketing will also remain till April 30.
The government cut VAT in March 2022 after prices skyrocketed due to the Russia-Ukraine war.
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