Duty on potatoes, onions slashed

The import duty on potatoes, big onions and red onions were slashed with effect from midnight yesterday, Finance and Planning Ministry sources said. The duty on potatoes was reduced by Rs. 30, big onions Rs. 25 and red onions by Rs. 10.

The Ministry sources said that the decision was taken according to instructions from the President.

The Ministry said that local produce of potatoes, big onions and red onions have already started to enter the market and therefore they could be provided at a reasonable price during the festive season. The price of a kilo of big onions rose to Rs. 240 last week due to the shortage of stocks triggered by the drop in imports. Taxes on agricultural produce were increased to boost local production and safeguard local farmers.

Consumers said that they expect further reduction in food items in the 2014 Budget that will be presented on November 21.