ISLAMABAD, Oct 1(ABC): Newly appointed Finance Minister Ishaq Dar slashed the price of petrol by Rs12.63 per litre, giving massive relief to the inflation-stricken people of the country.
Addressing his maiden press conference as the finance minister, Dar said that the decision to reduce the prices of petroleum products has been taken after consultation with Prime Minister Shehbaz Sharif.
It should be noted that the new prices will come into effect on October 1 at 12am.
Following the changes in the prices, petrol will now be available for Rs224.80 per litre.
Meanwhile, there is also a decrease of Rs12.13 in the price of high-speed diesel, after which the new price will stand at Rs235.30 per litre. The price of light diesel oil will be Rs191.83 after a decrease of Rs10.19 per litre.
Commodity |
Existing prices
|
Proposed prices
|
Petroleum levy |
Sales tax % |
Increase/(-) Decrease |
| Petrol | Rs237.42 | Rs224.80 | Rs32.42 | 0.00% | Rs-12.63 |
| Diesel | Rs247.43 | Rs235.30 | Rs12.58 | 0.00% | Rs-12.13 |
| Kerosene oil | Rs202.02 | Rs191.83 | Rs15 | 0.00% | Rs-10.19 |
| Light diesel oil | Rs197.28 | Rs186.50 | Rs10 | 0.00% | Rs-10.78 |
Moreover, the finance minister also announced a 31-day extension to the date of filing tax returns.
Later, a statement issued by the Finance Division, mentioned that the government decided to decrease the prices of petroleum products in the wake of the reduction of petroleum products prices in the international market and with a view to providing relief to the consumers.
