ISLAMABAD: Newly appointed Finance Minister Ishaq Dar on Friday slashed the price of petrol by Rs12.63 per litre giving massive relief to the inflation-weary people.
Addressing his maiden press conference as the finance minister, Dar said that the decision to reduce 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 at midnight tonight.
Following the changes in the prices, petrol will now be available for 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
|
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 |
Read more: Government again jacks up petrol price by Rs1.45 per litre
While the Federal Board of Revenue (FBR) on Friday extended the date for filing income tax returns for individuals and companies till October 31.
The decision has been taken keeping in view the demand of the business community.
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