ISLAMABAD: Pakistan Vanaspati Mills Association (PVMA) has rejected the price fixation mechanism of Punjab Government through notification.
According to details General Body Meeting of PVMA was held under the chairmanship of Mr. Atif ikram Sheikh to discuss price fixation mechanism of Punjab Government. The meeting also discussed the fixation of Vegetable Ghee & Cooking Oil Prices, brand wise by Government of Punjab and was of the view the provincial government is opting for price fixation through notification, which is unjustified, un-warranted and ill-legal.
The house was of the view that mill owners have reduced prices of vegetable oil and ghee to Rs.15t/Kg and reduction was passed to consumers but provincial government is still harassing them. The house unanimously condemned the harsh attitude adopted by government and stressed upon a need for collective approach to steer the industry out of crises. The participants added that as per principles of free market economy Government cannot fix the prices of various brands, therefore, PVMA should get necessary clarification from Competition Commission of Pakistan. Stress upon Government to withdraw the notifications creating divide and discrimination.
Accordingly with consultation’ Standardization and Reforms Committee’ was constituted comprising of 13 members. The committee will re-negotiate the price fixation mechanism with Punjab Government.
