The Pakistan government has increased the import tax on pet food products from 17% to 25% with effect from March 8. Products like processed meats, fish, fruit and vegetables, and confectionery are also affected.
What may help local players to increase market share, will probably affect negatively the pet food sector that has to already face like inflation, supply chain problems, and devaluation.
According to Rafae Dossal, CEO of Waggles Pet Foods, imported pet food has become “exorbitantly expensive” after rising taxes.
“Given how imported pet food products are now [even] more expensive, local manufacturers like ourselves [can] capture higher market share,” he stated.
Waggles could already double the sales volume and expects further increase.
Pakistan had prohibited the import of “luxury goods” which included pet food. Though this was reversed later on.
Pursuant to the Pakistan Kennel Club (PKC), around 150 pet food products are exported to Pakistan from 40 to 45 dog and cat food businesses.
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