“Smuggled Iranian edible oil harms local industry” – Pakistan

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KARACHI: Former Vice Chairman of Pakistani Vanaspati Manufacturers Association (PVMA) and former Chairman of KATI, Sheikh Umer Rehan, has expressed concern over the growing consumption of edible oil and ghee smuggled since Iran in the country and especially in Karachi.

He said thousands of tons of smuggled oil and ghee had devastated local manufacturers. Smuggled oil not only costs the government billions of rupees in taxes, but also shuts down local industries due to low prices and black market.

Sheikh Umer Rehan further said that the government and law enforcement agencies should take strict measures to combat smuggling. He said the black sheep hidden in government agencies should be found under whose patronage thousands of tons of edible oil and ghee are coming to market.

He feared that if the smuggling was not stopped immediately, local industry would be shut down and the government would suffer major losses in revenue.

He demanded that the government create competition in the sale of edible oil, ghee and formulate a strategy to combat smuggling or also grant tax exemption to local manufacturers so that they can compete with smuggled oil due of its low price.

Copyright Business Recorder, 2021

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