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ZACA nods VAT suspension on imported edible oil

• What government has done is long overdue.
• This is one way of stabilizing the prices of Edible oils.
• Government should consider extending this move to Wheat.

Zambia Consumer Association (ZACA) says government’s decision to suspend all import duties and Value Added Tax (VAT) on imported crude edible oil, will help stabilize prices of cooking oil in the country.
Speaking in an interview with Money FM News, Association Executive Secretary Juba Sakala said the suspension of import duties and zero rating VAT on locally manufactured cooking oil is an indication that government is listening to both Consumers and Manufacturers’ concerns.
Mr. Sakala stated the gesture will motivate local Manufacturers to produce more and sell at competitive prices for most consumers to afford.
He noted that cooking oil prices have been escalating for the past 3 to 4 months, therefore Importers and local Manufacturers must ensure that the move also trickles down to Consumers.
“What government has done is long overdue, we expected this some time back. We are however happy that at least Government is listening to both consumers and manufacturers. This is one way of stabilizing the prices of Edible oils as you all aware that prices of Edible oils have been souring for the past 3 or 4 months. We also want to urge importers and local Manufacturers to make this move also trickle down to consumers.”
“We also want Government to extend this move to Wheat because Millers have been complaining of the import duty and VAT,” Mr. Sakala said.
On Wednesday, Crushers and Edible Oil Refiners Association (CEDORA) assured consumers that cooking oil prices will reduce by about 20% following government’s move to suspend all import duties and Value Added Tax (VAT) on imported crude edible oil, as well as zero rating VAT on locally manufactured cooking oil.

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