The government has decreased the prices of high speed diesel, light diesel and kerosene oil for the next month. Announcing reduction in prices at a press conference in Islamabad, Ishaq Dar said that the price of high speed diesel has been reduced by three rupees to 80.79 from 83.79, light diesel by 8.29 rupees to 44.94 from 53.23 rupees and kerosene oil by 8.7 rupees from 56.32 to 48.25 rupees. The Finance Minister said the prices of petrol and high octane are being maintained at the current level of 76.26 and 80.66 rupees respectively. Ishaq Dar said the government has also prepared a scheme for the filers and non-filers of tax returns and this will be presented in the National Assembly tomorrow.
Government lowered petrol and diesel prices by ten percent during the course of 2015 while in international market the prices fell by 37 percent.
Crude oil price dropped to $37 per barrel from $59 per barrel within the year which is the lowest of the last eight years. Since Pakistan imports petrol, local price fell to Rs 76.26/litre from Rs 84.53/litre while diesel came down to Rs 84 per litre from Rs 94 per litre.
Experts have said that the government has filled up national treasures as well as transferred the relief to the people.
Petroleum products’ prices would have fallen by another Rs 15 per litre if no additional taxes were imposed. According to an estimate, government is pocketing Rs 25 on one litre petrol while Rs 33 on that of diesel.
However, Finance Ministry has stated that, talking about sales tax, government is acquiring 45.5 percent on diesel while 24 percent on petrol.
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