ISLAMABAD: On the occasion of New Year, the prices of petroleum products are likely to be reduced by Rs 10.60 per liter. The initial working paper for the prices of petroleum products has been prepared.
According to sources in the Ministry of Finance, a reduction of Rs 10.60 per liter in petrol prices is proposed from January 1, in addition, a reduction of Rs 8.59 per liter in the price of high-speed diesel is proposed, while a reduction of Rs 9 per liter in the price of kerosene and Rs 6.62 per liter in the price of light diesel is proposed.
OGRA will send the working paper to the government tomorrow.
The government will take a decision keeping in mind the revenue requirements. The Ministry of Finance will take a decision after the approval of the Prime Minister.
The final notification will be issued by the Ministry of Petroleum. If the government does not impose levies or taxes, the public will get relief on New Year.
