Sunday, February 25, 2024
HomeBusiness"Manufacturers have no excuse failing to reduce cooking oil prices" dares Information...

“Manufacturers have no excuse failing to reduce cooking oil prices” dares Information Minister Kazako

LILONGWE-(MaraviPost)-Information Minister Gospel Kazako has dares cooking oil manufacturers and suppliers to reduces the item’s prices following 16% Value-Added Tax (VAT) removal.

Kazako told the government faces the press on Wednesday, February 23, 2022 that oil manufacturers have on any excuses to delay reducing the commodity’s prices.

The minister expect oil companies and suppliers to quickly reduce item’s prices once due processes are done at Parliament.

Kazako from left: Says there is no excuse to reduce cooking oil prices

“There 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’s prices to where it was two years ago.

“If 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”, dares Kazako.

We don’t want to President Lazarus Chakwera’s Tonse government has removed Value Added tax (VAT) on Cooking Oil and tapped water.

During last Friday’s 2022/2023 Fiscal Year presentation Finance Minister Sosten Gwengwe emphasized the need for cooking oil manufacturers in the country to adhere to the government call for the reduced prices.

Since VAT removal on cooking oil, manufacturers have been silent.

Kazako however did not give details on specific action government will take on non-compliance on cooking oil VAT remove.

Currently, two litre bottle is pegged at MK4, 500 while five litre fetches the range of MK12,000 to MK15, 000.

Gwengwe: People ‘s Finance Minister

“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

Maravi Post Reporter
Maravi Post Reporter
Op-Ed Columnists, Opinion contributors and one submissions are posted under this Author. In our By-lines we still give Credit to the right Author. However we stand by all reports posted by Maravi Post Reporter.


Comments are closed.

- Advertisment -

Most Popular

Recent Comments

James Hastings Chidule on Malawi’ fistula recovery at 86%
WELLINGTON WITMAN MOSELIJAH LUNDUKA on The history of Ngoni Maseko in Malawi
Lisa Frank on Home
azw3 on Home
Define Regtech on Home
Tobias Kunkumbira on Malawi to roll out Typhoid vaccine
arena plus nba standings 2022 to 2023 ph on Home
David on Home
마산출장 on Home
Cristina Thomas on Home
Alicia Alvarado on Home
The History of online Casinos – Agora Poker – hao029 on The History of online Casinos
Five factors that will determine #NigeriaDecides2023 - NEWSCABAL on Leadership Is Difficult Because Governance Is Very Stubborn, By Owei Lakemfa
Asal Usul Texas Holdem Poker – Agora Poker – hao029 on The Origins of Texas Holdem Poker
Malawi has asked Mike Tyson to be its cannabis ambassador - Techio on Malawi lawmaker Chomanika against Mike Tyson’s appointment as Cannabis Brand Ambassador over sex offence
Finley Mbella on Brand Chakwera leaks Part 1
Maria Eduarda Bernardo on The 2021 Guide to Trading Forex Online
Atsogo Kemso, Political Foot Soldier on Why MCP and UTM Alliance Will Fail
Em. Prof. Willem Van Cotthem - Ghent University, Belgium on Malawi army, National bank cover Chilumba barrack with trees
Christopher Murdock on Why dating older woman is dangerous?
Samantha The Hammer on Why dating older woman is dangerous?
Muhindo Isevahani on The Cold War Against TB Joshua
JCON/SCOAN/BKN(888/8885/8808) on The Cold War Against TB Joshua
Keen Observer on Jesse Kabwila, Then and Now
Francesco Sinibaldi on Advertising in 2020 and beyond
VICTORIA NAMENE FILLIPUS on Is TB Joshua not another religious fraudster?
Janet on SECURI