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Friday Sep 30 2022
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FinMin Ishaq Dar massively slashes petrol price by Rs12.63 per litre

Federal Minister for Finance and Revenue Miftah Ismail addresses his maiden press conference in Islamabad on September 30, 2022. — Screengrab via YouTube/Geo News Live
Federal Minister for Finance and Revenue Miftah Ismail addresses his maiden press conference in Islamabad on September 30, 2022. — Screengrab via YouTube/Geo News Live
  • Finance minister says petrol will be available at Rs224.80 per litre.
  • New prices will come into effect from October 1.
  • Dar announces 31-day extension in the date of filing tax returns. 


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-stricken people of the country.

Addressing his maiden press conference as the finance minister, Dar said that the decision to reduce the 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 on October 1 at 12am.

Following the changes in the prices, petrol will now be available for Rs224.80 per litre.

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
w.e.f.
21.09.2022 

Proposed prices
w.e.f.
01.10.2022

Petroleum levy

Sales tax %

Increase/(-) Decrease

Petrol 
Rs237.42
Rs224.80
Rs32.420.00%Rs-12.63
Diesel 
Rs247.43
Rs235.30
Rs12.580.00%
Rs-12.13
Kerosene oil
Rs202.02Rs191.83
Rs150.00%
Rs-10.19
Light diesel oil
Rs197.28
Rs186.50
Rs100.00%
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.