Wednesday, April 24, 2024

Featured Video

Latest Stories

Top 10 Music

Upcoming Events

Zomba City Festival

Fri, 26 Apr 2024 10:00:00 UTC @ Botanic Garden - 2024 Zomba City Festival is schedulled to take place on 26 to 28 April at Botanic Garden in Zomba This is a festival for all ages in the historic mountain city of Zomba. Celebrate Cultu... More Info
Queens Club Shut Down

Fri, 26 Apr 2024 19:00:00 UTC @ Queens Club - Queens Club Presents "Queens Club Shut Down" with music performances by Kelly Kay, Charisma, Teddy Makadi and Praise Umali. The show will take place at Queens Club in Mzuzu on 26 April... More Info

Rising Of Cooking Oil Prices Worries Consumers

The consumers Association of Malawi [Cama] has called for an investigation into rising prices of cooking oil in the country.

cooking oil prices have been rising in the past and manufacturers attribute it to re-introduction of Value Added Tax [VAT] on the product.

However a press statement from the consumers watchdog, says atributing the rise in prices to the re-introduced VAT is misleading.

According to Cama, their investigations have established that before the re-introduction of VAT in October 2020 a- 500 milliliter bottle of cooking oil was selling at K520 but immediately after the re-introduction of VAT it went up by 50 percent .

Cama has also noted that the rise in cooking oil prices is a result of other factors including the rise in crude oil prices on the international market.

Capital Oil refining industries Limited Executive Director Ameen Karim said that as much as there are other factors which have led to the rise they are burdened by VAT which makes the country’s oil more expensive than smuggled oil.

 

Subscribe to our Youtube Channel:

Related Posts

Popular Articles