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 |
Moreover, the finance minister also announced a 31-day extension in the date of filing tax returns.
