“Tax Hikes in Pakistan Budget Lead to Cooking Oil, Ghee, and Sugar Price Increases”
The Pakistani government’s recently passed budget, designed to meet International Monetary Fund (IMF) demands, has sparked a surge in basic food prices.
Following the budget’s implementation on July 1st, 2024, essential goods like sugar, cooking oil, and ghee saw significant price hikes. A 50kg bag of sugar now costs Rs 6,950, a Rs 250 increase, while ghee prices jumped by Rs 300 per pack. Cooking oil saw a Rs 40 per kg increase, and lentils (Dal Moong) rose by Rs 60 per kg to Rs 340.
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Furthermore, the cost of flour, dried milk, packaged milk, and other items have also risen. This inflation coincides with the new budget for the 2024-25 fiscal year.
Adding fuel to the fire, the Flour Mills Association launched a protest against a newly imposed withholding tax. Flour mills in various cities have shut down in protest, demanding the government withdraw the tax.
