Africa-Press – Zambia. Cooking oil price hike postponed to new year The anticipated price hike in cooking oil and other edible oils that are mostly imported into Zambia has been postponed by two more months to end of the year from 31 December 2021, coinciding with the start of the new budget cycle for 2022.
The eminent increase in prices of cooking and other edible oils was anticipated after the initial statutory Instrument – S.I. that was issued by the former ruling Patriotic Front – PF government suspended the collection of customs and excise duty expired.
Finance Minister Situmbeko Musokotwane under the now ruling United Party for National Development – UPND has signed off or re-issued another S.I. that has re-imposed the suspension of customs and excise from 1st November 2021 to 31st December 2021.
The current edible and cooking oil prices on the market are not reflective of real market prices as government is losing on budgeted revenue from the levies on the imports of the various edible oil products… follow link to read full article https://zambianbusinesstimes.com/cooking-oil-price-hike-postponed-to-new-year/
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