ISLAMABAD: The federal government on Friday slashed the prices of petroleum products, including the price of the all-important petrol. The government also extended deadline of filing tax returns till Oct 31.
Speaking at his maiden press conference on Friday evening, Finance Minister Ishaq Dar said that the government was reducing the price of petroleum product by as much as 5.5%.
Price of petrol or gasoline was reduced by Rs12.63 per liter. A liter of petrol will now cost at least Rs224.80.
Similarly, the price of high-speed diesel (HSD) has been cut by Rs12.13 per liter from Rs247 to Rs235.30. HSD is primarily used in trucks and buses.
The price of Kerosene Oil was reduced by Rs10.19 from Rs202.2 to Rs192.01 per liter. Kerosene is used in lighting lamps and running small stoves.
Light Diesel Oil (LDO) was down by Rs10.78, from Rs197.28 to Rs186.5 per liter. LDO is mostly used by tube wells.
| Petrol prices | Old Price Per Liter | New Price Per Liter | Change in Value |
|---|---|---|---|
| Petrol | Rs237.43 | Rs224.80 | Rs12.63 |
| High Speed Diesel | Rs247 | Rs234.87 | Rs12.13 |
| Kerosene Oil | Rs202.2 | Rs192.01 | Rs10.19 |
| Light Diesel Oil | Rs197.28 | Rs186.5 | Rs10.78 |
New deadline for filing Income tax returns
Meanwhile, due to the floods and load on the system, Dar granted a month’s extension in filing income tax returns.
Previously, September 30 was stated as the last date to file income tax returns. The new deadline to file income tax returns is October 31. Explaining the increase in the deadline, Dar said that they know that due to the rush of filing the tax on the last day, it was creating bottlenecks in the system causing it to slow the entire process.
