The prices of basic commodities such as mandazi, chapati and margarine are set to rise if a new tax law is enacted.
The price hike will be occasioned by a proposed 25 per cent excise duty on edible oils that would see a steep rise in the prices of cooking oiL.
Players in the edible oil sector are cautioning the proposal will cause serious price hikes.
Cooking oil is a fundamental ingredient in many everyday foods such as bread, mandazi, chapati and chips.
The Finance Bill, 2024 is currently undergoing public participation in Parliament and is set for consideration when MPs resume sittings next week.
