Petrol, diesel prices to 'remain unchanged'

Finance Minister Ishaq Dar announced on Wednesday that petrol and diesel prices would remain unchanged for the next fortnight — till December 15.

In a televised address, the financial czar said the government has decided to slash the price of kerosene oil in view of cold weather as it is mainly used by lower-income groups in villages.

“On the instructions of prime minister [Shehbaz Sharif] it has been decided to reduce its [kerosene oil] prices effective from December 1 till Dec 15,” he added.

Likewise, Dar said the price of light diesel oil would be slashed by Rs7.50 per litre. The new prices will be effective from midnight today.

On November 15, the PML-N-led coalition government decided to keep the prices of petroleum products unchanged. The government had decided to maintain the existing price of petrol at Rs224.80 per litre, diesel Rs235.30 per litre, kerosene oil Rs191.83 per litre and LDO at Rs186.50 per litre.

As diesel is widely used in the transport and agriculture sectors, fluctuation in its price has a direct impact on the life of consumers.

Petrol, which is used in motorbikes and cars, is an alternative to CNG. Due to the shortage of gas in Pakistan, especially in Punjab, the demand for petrol widely increased.

Kerosene, an alternative to LPG, is used in remote areas and is consumed for cooking purposes. The armed forces are also the main consumer of kerosene oil in northern parts of the country.

The minister also announced that the deadline for filing tax returns has been extended by 15 days to Dec 15 on the demand of business community.