Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram has raised concerns about the potential rise in ghee and cooking oil prices before Ramadan.
He highlighted that delays in clearing edible oil imports are forcing importers to pay millions of dollars in demurrage charges, driving up the cost of ghee and cooking oil. The added costs will eventually be passed on to consumers.
Atif Ikram explained that the clearance process is slow, causing customs and logistical delays of up to 10 days. He warned that if the issue persists, prices could spike significantly before Ramadan.
He also pointed out that the demurrage charges are being paid in dollars, further increasing costs. He urged the government to take immediate steps to resolve the matter.
To address the issue, the FPCCI president announced plans to meet with the Minister of Finance, the Chairman of the Federal Board of Revenue (FBR), and other officials next week to explore solutions.
Last year, ghee and cooking oil prices rose by up to Rs. 30 per kilogram, with cooking oil prices increasing from Rs. 530 to Rs. 560 and ghee prices reaching Rs. 550. Market dealers reported that Karachi-branded ghee experienced a sharp Rs. 120 price hike in just one month, reaching Rs. 500.
