Africa-Press – Malawi. President Lazarus Chakwera’s Tonse government has removed Value Added tax (VAT) on Cooking Oil and tapped water. Minister of Finance, Sosten Gwengwe, disclosed this in an interview with the media at Parliament on Friday, February 18, 2022 after the budget presentation.
Gwengwe said government believes that the removal of the VAT will normalize the prices of cooking oil and tapped water which were hiked overnight. He has therefore asked the cooking oil manufacturers in the country to adhere to the government call for the reduced prices.
The minister also disclosed that government, when coming up with the budget, prioritized the needs of Malawians especially the necessities. “Tapped water and cooking oil are basic necessities and as government, we thought it wise to make the revision of VAT for the betterment of Malawians,” said Gwengwe. This comes at a time when the country Is facing high cost rate in all sectors.
For More News And Analysis About Malawi Follow Africa-Press
