Pakistan imports 30,000 metric ton of edible oil from Indonesia to calm local prices

ISLAMABAD – Pakistan will receive 10 ships of edible oil from Indonesia in the next two weeks amid skyrocketing oil prices in the country.

A statement issued by Prime Minister’s Office on Tuesday said the first of 10 cargo ships carrying 30,000 metric tons of edible oil will sail for Pakistan from Indonesia today.

It added that Prime Minister Shehbaz Sharif dialed Indonesian President Joko Widodo last week. Both sides agreed to closely coordinate on ensuring a steady supply of palm oil to the South Asian country.

https://twitter.com/PMO_PK/status/1536644020474101760

“Prime Minister Shehbaz Sharif has made great strides in supplying edible oil to the people. Brotherly country Indonesia will immediately supply palm oil to Pakistan,” a tweet from Prime Minister’s Office handle reads.

A Pakistani delegation will likely visit the largest Southeast Asian nation and held successful talks with the Ministry of commerce for the provision of palm oil.

The development comes amid a sharp rise in the prices of ghee and cooking oil. Sharif-led coalition government earlier jacked up prices of ghee and oil to an all-time high of Rs555 per kg and Rs605 per liter, respectively.

Last month, Indonesia allowed palm shipments to resume following a three-week ban designed to boost cooking oil stocks and keep runaway local prices in check.