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Ishaq Dar announces Rs12.63 slash in petrol price

Finance Minister Ishaq Dar on Friday evening announced a reduction in the price of petrol by Rs12.63 per litre for the first fifteen days of October 2022.

While the price of high-speed diesel has been slashed by Rs12.13 per litre.

The newly appointed Finance Minister said the decision to reduce prices has been taken after a “detailed discussion” with Prime Minister Shehbaz Sharif.

“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.

While kerosene oil’s new price will be Rs191.83 following an Rs10.19 cut and light diesel oil’s price will be Rs186.50 after a decrease of Rs10.78.

The new prices will come into effect at midnight tonight, announced Ishaq Dar while addressing a press conference in Islamabad.


Existing prices

Proposed prices

Petroleum levy

Sales tax %

Increase/(-) Decrease

Petrol Rs237.42 Rs224.80 Rs32.42 0.00% Rs-12.63
Diesel Rs247.43 Rs235.30 Rs12.58 0.00% Rs-12.13
Kerosene oil Rs202.02 Rs191.83 Rs15 0.00% Rs-10.19
Light diesel oil Rs197.28 Rs186.50 Rs10 0.00% Rs-10.78

Furthermore, the finance minister also announced a 31-day extension to the date of filing tax returns.

“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 to everyone to file their returns by the new deadline,” he added.


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