Govt. slashes levy on imported onions to tackle price surge

Monday, 2 December 2024 03:13 - - {{hitsCtrl.values.hits}}

The Government on Saturday announced that it has decided to reduce the Special Commodity Levy (SCL) on imported from Rs. 30 to Rs. 10 per kilo. The new levy is in effect from yesterday till 31 December 2024, as per a gazette notification issued on 30 November.

The move comes amidst rising prices for onions and growing concern about potential price hikes for potatoes and other vegetables, driven by adverse weather and season demand during the festive period. However, the SCL of Rs. 60 per kilo on imported potatoes will remain unchanged.

In a statement, the Finance, Planning and Economic Development noted that the tax adjustment was implemented following recommendations from the Agriculture, Livestock, Lands and Irrigation Ministry as well as Trade, Commerce, Food Security and Cooperative Development Ministry.

It added that the revision aims to strike a balance between supporting local farmers and ensuring affordable prices for consumers.

The adjustment follows the expiration of the previous gazette notification No. 2404/19, necessitating new measures to regulate prices during the festive season.

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