Petrol price slashed by Rs12.63 litre, HSD by Rs12.13

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Date for filing income tax returns extended till Oct 31

Finance Minister Ishaq Dar on Friday announced a reduction in the price of petrol by Rs12.63 per litre and high-speed diesel by Rs12.13.

The new prices came into effect at midnight Friday, the newly appointed finance minister said while addressing a press conference in Islamabad.

“The petrol price has been reduced to Rs224.80 per litre from Rs237.43 after a reduction of Rs12.63. Likewise, high-speed diesel price is being reduced by Rs12.13. It will now be sold at Rs235.30, down from the existing Rs247.43,” the minister said.

Similarly, kerosene oil’s new price will be Rs191.83 following a Rs10.19 cut and light diesel oil’s price will be Rs186.50 after a de crease of Rs10.78.

Dar said the decision to slash prices had been taken after a “detailed discussion” with Prime Minister Shehbaz Sharif.

He said Rs685 billion had been collected in taxes in the month of September while in the third quarter Rs1,635bn were collected against the target of Rs1,609bn.

The minister also underlined that several individuals were facing problems in filing tax returns due to floods and they requested the government to announce an extension in the date.

“In view of the request made by trade bodies and businessmen, we are extending the date for filing income tax returns by a month till Oct 31, 2022. I appeal everyone to file their returns by the new deadline,” Dar added.

Shortly after the minister announced the reduction in petrol prices, the PML-N’s official Twitter account tweeted that “more awami relief on its way, Insha’Allah”.

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.

 

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