The Ministry of Trade and Industry has issued a ‘final warning’ to suppliers and retailers of cooking oil to reduce prices of the commodity.
This has been said in a statement signed by Minister of Trade Industry Mark Katsonga Phiri.
The minister said some suppliers of cooking oil are yet to reduce prices weeks after Parliament of Malawi passed a bill removing Valued Added Tax (VAT) on Cooking Oil and after the decision was gazetted by Government.
Katsonga Phiri said government expected that by now all suppliers of edible cooking oil should have ceased and desisted from charging VAT on the cooking oil as per the gazette notice issued by the Ministry of Finance.
He then warned that drastic action will be taken against all the traders that are not abiding by the law.
“By copy of this notice, all consumers across the country are hereby advised to report with immediate effect all the suppliers that have not yet reduced the price to the Ministry of Trade and Industry for the urgent action,” he said.
In that case what should be the price of cooking oil since VAT has since been removed.