ISLAMABAD: Finance Minister Ishaq Dar on Friday announced a major reduction in the price of petrol and slashed it by Rs12.63 per litre.
The newly appointed finmin, while addressing his maiden press conference in the federal capital, said that the decision to reduce prices of petroleum products has been taken after consultation with Prime Minister Shehbaz Sharif.
Following the changes, petrol will be available at Rs224.80 per litre from October 1.
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 | New 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.
"Govt is definitely having positive discussions with the kingdom in this regard," says Musadik Malik
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