Price of cocking oil to rise in the next financial year

By Samuel Ssebuliba.

Ugandans are may have to dig deeper into their pockets for cocking oil in the next financial year, if government implements the proposed new excise duty on each liter consumed.

Under the new tax proposals, government plans to charge 200 shillings on each liter of cocking oil regardless of whether it’s manufactured in Uganda or not.

According to Nelly Businge the Advocacy Officer for SEATINI Uganda, this move should only affect imported cocking oil with the aim of promoting local industries.

She says if this is not reversed, the price of cocking oil is going to skyrocket starting July this year affecting other locally made products that use it as a key ingredient.