Parliament has passed the Value Added Tax amendment bill.
The bill seeks to reduce prices of cooking oil, water and sanitary pads with a minimum of 16.5% by 1st April 2022.
According to Minister of Finance Sosten Gwengwe, the bill aims at addressing the financial constraints Malawians are facing.
He Added that prices of cooking oil must drop considering that 90 percent of cost of production is from the importation of crude oil.
