By Staff Reporter
Minister of Trade and Industry Mark Katsonga Phiri has issued a “final warning” to cooking oil suppliers and retailers who have not reduced prices following the removal of 16.5 % Value Added Tax (VAT).
In a statement, Katsonga says the government will take drastic action on all the traders that fail to comply.
“The drastic action will be applicable to all traders that are not abiding by the said gazette notice,” says Katsonga.
He has since then urged all consumers to report all suppliers who have not reduced the prices to his Ministry so as it take an urgent action.
Katsonga Phiri expressed concern with how the cooking oil suppliers acted with speed to increase their prices when the government introduced VAT on cooking oil in November.
Following the development ministry of trade together with CFTC have dispatched teams to all cooking oil outlets in the country to conduct inspections and take action against all traders that are still charging VAT on cooking oil.
The ministry is further assuring consumers that that it will not tolerate any trader taking advantage of them.
