The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced concerns over a potential surge in ghee and cooking oil prices ahead of Ramadan due to delays in clearing edible oil imports.
FPCCI President Atif Ikram warned that prolonged clearance times are forcing importers to pay millions of dollars in demurrage charges, driving up costs that will ultimately impact consumers. He highlighted that customs-related delays, stretching up to 10 days, are worsening the situation and could lead to a sharp price increase if not resolved soon.
“The demurrage charges are being paid in dollars, which is adding to the cost of ghee and cooking oil,” he stated, urging the government to take immediate action.
To address the issue, Atif Ikram announced plans to meet with the Minister of Finance, Chairman of the Federal Board of Revenue (FBR), and other key officials next week to discuss possible solutions.
