June 2, 2022: Federal Minister for Finance and Revenue Mr. Miftah Ismail directed to expedite the process for import of edible oil from Malaysia and Indonesia to ensure smooth supply to the consumers, a press release said today.

This would also stabilize the price hike of edible oil.

While presiding over a meeting of the Committee on edible oil availability, the minister was informed that the price of edible oil is rising globally which would have significant impact on the trade bill of Pakistan.

Federal Minister Rana Tanveer Hussain also gave workable option to enhance local production of Canola oil seeds for import substitution and to ensure availability of the commodity in the wake of global pressure on supply chain. 

He further directed that required steps should be undertaken to enhance the local production, so that its impact on foreign exchange reserves could be minimized.

Press Release

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