Latest petrol price in Pakistan from Nov 16

ISLAMABAD: The Government of Pakistan Tuesday kept the price of petrol unchanged at Rs224.80 per litre for the next fortnight.

Federal Minister for Finance and Revenue Ishaq Dar announced the development via a televised message.

The price of petrol remained unchanged at Rs224.80 per litre, high-speed diesel at Rs235.30 per litre, and light diesel oil is Rs191.83.

The prices will remain unchanged for the next fortnight and will come into effect from November 16.

The government last slashed the price of petrol on September 30 by Rs12.63 per litre, giving massive relief to the inflation-stricken people of Pakistan.

Dar, during his brief media talk today, also said that the State Bank of Pakistan (SBP) and the National Bank of Pakistan (NBP) had submitted applications to the Supreme Court requesting to withdraw their appeals against the Federal Shariat Court’s (FSC) direction to the government for a complete transformation of the banking system into Shariah-compliant banking by December 2027.

Earlier this year, the FSC ruled that the federal government and provincial governments must amend relevant laws and issued directives that the country’s banking system should be free of interest by December 2027.

Commercial banks and the central bank had subsequently filed an appeal before the apex court challenging the FSC verdict.

However, last week, Dar said that the SBP and NBP would withdraw their appeals, adding that the government would quickly try to implement an Islamic banking system in the country.

The finance minister, while updating on the matter, said: “Both of the applications have been submitted to the apex court.”