{"id":18081,"date":"2022-03-13T19:48:08","date_gmt":"2022-03-13T19:48:08","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar"},"modified":"2022-03-13T20:19:36","modified_gmt":"2022-03-13T20:19:36","slug":"cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar","title":{"rendered":"Cooking oil companies defy Chakwera\u2019s VAT removal as prices soar"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Cooking oil refining companies have not responded to President Lazarus Chakwera\u2019s Tonse government tax removal on cooking oil, instead the community\u2019s prices has gone up drastically.<\/p>\n

Following Finance Minister Sosten Gwengwe\u2019s announcement that government removed 16% Value Added Tax (VAT) on cooking oil, the public expected lowering of the item\u2019s prices but the case is different on the market.<\/p>\n

The Maravi Post spot check in chain stores and retail shops across the country, show that cooking oil prices have gone up sarcastically. For instance 1 litre cooking oil hovers at MK3, 500, 2 litre is pegged at MK,7600 while 5 litre cost MK14, 400 that two years ago the commodity was MK900, MK2,400 and MK4,500 respectively.<\/p>\n

\u201cInstead prices going down, cooking oil is up beyond imagination. What type of leadership is this? What is making cooking oil manufacturers and suppliers not to reduce the price despite VAT removal? wonders Pascal Ng\u2019ambi, Mzuzu resident.<\/p>\n

Zomba consumer chips in, \u201cIs there any reasons apart from VAT that government is hiding from us on why cooking oil companies aren\u2019t responding?\u201d. This publication understands that the country has ran out of raw materials including soya beans, sun flower and among other.<\/p>\n

This has forced local manufacturers importing the raw material at high rates due to depreciation of Malawi currency Kwacha. Information Minister Gospel Kazako however last month dared cooking oil manufacturers and suppliers to reduces the item\u2019s prices following 16% VAT removal.<\/p>\n

Kazako told the government faces the press on Wednesday, February 23, 2022 that oil manufacturers have on any excuses to delay reducing the commodity\u2019s prices. The minister expected oil companies and suppliers to quickly reduce item\u2019s prices once due processes are done at Parliament.<\/p>\n

\u201cThere was no any reason to hike cooking oil prices apart from the VAT that was put on the commodity. Now, government expects nothing but to reduce the item\u2019s prices to where it was two years ago.<\/p>\n

\u201cIf they fail to reduce the prices, then Malawians have to question their motive. Even, hiking of cooking oil prices were exorbitant regarding to mere 16% VAT on it. We are expecting them to respond quickly\u201d, dares Kazako.<\/p>\n

The minister has not responded to the latest soaring of cooking oil. Cooking oil manufactures including Sun Seed oil has not make any statement regarding to government VAT removal on the product but instead resort hiking the commodity.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Cooking oil refining companies have not responded to President Lazarus Chakwera\u2019s Tonse government tax removal on cooking oil, instead the community\u2019s prices has gone up drastically. Following Finance Minister Sosten Gwengwe\u2019s announcement that government removed 16% Value Added Tax (VAT) on cooking oil, the public expected lowering of the item\u2019s prices but […]<\/p>\n","protected":false},"author":84,"featured_media":18080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,234],"class_list":["post-18081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nCooking oil companies defy Chakwera\u2019s VAT removal as prices soar - Malawi<\/title>\n<meta name=\"description\" content=\"Cooking oil refining companies have not responded to President Lazarus Chakwera\u2019s Tonse government tax removal on cookin ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cooking oil companies defy Chakwera\u2019s VAT removal as prices soar\" \/>\n<meta property=\"og:description\" content=\"Cooking oil refining companies have not responded to President Lazarus Chakwera\u2019s Tonse government tax removal on cookin ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-13T19:48:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-13T20:19:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/03\/img-622e51bd54334.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"719\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Cooking oil companies defy Chakwera\u2019s VAT removal as prices soar\",\"datePublished\":\"2022-03-13T19:48:08+00:00\",\"dateModified\":\"2022-03-13T20:19:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar\"},\"wordCount\":418,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/03\/img-622e51bd54334.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/cooking-oil-companies-defy-chakweras-vat-removal-as-prices-soar\",\"name\":\"Cooking oil companies defy Chakwera\u2019s VAT removal as prices soar - 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