SUSPEND VAT ON IMPORTATION OF EDIBLE OILS
17th April, 2022
It is an indisputable fact that the cost of living has continued to rise beyond the reach of most Zambians. The latest data from JTCR shows that a family of 5 in Lusaka needs not less than K9, 400 per month to meet its basic needs and nutrition requirements.
Further, statistics show that amongst the main contributors to the spike in the cost of living is the price of cooking oil. Most people especially our poor mothers from the compounds who depend on baking vitumbuwa for their survival as well as young adults such as students who depend on such products for their breakfast are enduring the worst brunt of the effects of the current high prices of cooking oil.
As a former ruling party and the largest opposition political party in Zambia, the Patriotic Front has the requisite experience on issues of governance and the economy, thus we are rightly placed to offer tangible solutions and alternatives to the UPND government for the benefit of the Zambian people. We therefore call upon the Government to immediately SUSPEND VAT on importation of edible oils; this includes Crude Soya Bean Oil as well as Crude Palm Oil. This suspension should not be indefinite, it can run for at-least a period of not more than 6 months. The objective is to cushion our people from the prevailing harsh economic challenges they are currently suffering from.
Further, Government can give tax waivers through a Statutory Instrument to traders who import at-least not less than 5000 metric tonnes of edible oil per month. This will save businesses and protect jobs that are currently under threat as the cost of doing business continues to rise due to high fuel prices amongst other factors.
Just like mealie meal, cooking oil is not a luxury but a basic necessity, therefore it is prudent for the Government to do everything within its power to make such a commodity accessible and affordable to all Zambians.
It is our utmost faith that the Government will seriously consider the proposals we have suggested in order to help reduce the cost of living for our people.
Issued by:
Antonio M. Mwanza
PF Media Director