Govt cuts petrol & diesel prices. According to News, Finance Minister Ishaq Dar on Saturday announced price reductions for gasoline and high-speed diesel (HSD) of Rs. 9 per litre and Rs. 7, respectively.
The finance minister announced at a press conference in Islamabad that the new prices will take effect at midnight tonight.
Petroleum Products Prices:
— Ishaq Dar (@MIshaqDar50) July 15, 2023
July 16 to July 31, 2023:
REDUCTIONS:
MS Petrol—with Rs 9 per litre reduction, new price Rs 253 per litre.
High Speed Diesel —with Rs 7 per litre reduction, new price Rs 253.50 per litre.
“The price of gasoline decreased by Rs9, from Rs262 to Rs253 per litre. The cost of high-speed diesel has also decreased by Rs 7. The price reduced from Rs260 to Rs253.50, the minister announced.
However, the finance minister made no mention of any adjustments to the price of light-diesel or kerosene.
Ishaq Dar drew attention to the fact that over the previous 15 days, the price of one petroleum product had increased while that of another had decreased on the global market.
He claimed that the value of the Pakistani Rupee had increased, making up for the rise in the price of these goods.
The petroleum development levy (PDL), which raised at the International Monetary Fund’s (IMF) request, had not changed, the minister added.
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We aren’t making any changes to the PDL because Prime Minister Shehbaz Sharif instructed us to provide the people with as much relief as we can, he continued.
Previously, the government kept the cost of gasoline unchanged while raising the cost of diesel by Rs7.5 per liter.