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Business & Finance

Ishaq Dar announces reduction of Rs12 in petrol price, diesel's rate cut by Rs30

  • Finance minister says PM Shehbaz wants maximum relief to be passed onto the public
Published May 15, 2023

Finance Minister Ishaq Dar on Monday announced that the price of petrol was being reduced by Rs12 and diesel was being brought down by Rs30 per litre, Aaj News reported.

The price cut will come into effect at midnight tonight.

In a televised address, Dar said Prime Minister Shehbaz Sharif wants maximum relief to be passed onto the public. The finance minister also urged transporters and other businesses to pass on the impact of lower fuel prices to the public, as Pakistan grapples with record inflation.

“Hence, after 12pm tonight, for the next 15 days, petrol prices are being reduced by Rs12 and the new price of petrol will now be Rs270,” Dar said.

He said diesel will now cost Rs258 after a deduction of Rs30.

Kerosene oil will now cost Rs164.07 after a decrease of Rs12 and the price of light diesel oil will be reduced by Rs12 to Rs152.68 per litre.

Comments

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Jani Walker May 15, 2023 11:43pm
Bye bye IMF. Welcome money printing to buy votes. It is time the foreign donors turn off the charity tap and leave the country to rot.
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Jani Walker May 15, 2023 11:55pm
I wonder if foreign currency accounts of overseas Pakistanis and locals are going to be frozen and then used for making foreign loans repayments due in next few months, as without IMF there will be no more loans/roll overs available.
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TimeToMovveOn May 16, 2023 01:28am
@Jani Walker, turn off the charity tap and leave the country to rot.--they have already done that. For those who are thinking that IMF is not fair to Pakistan, this is the reason. Dar cannot be trusted.
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Fatima May 16, 2023 03:06am
He’s my hero
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Az_Iz May 16, 2023 08:09am
Elections coming up soon. Time for subsidies. Who cares , how the country is going to pay for it.
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Az_Iz May 16, 2023 08:11am
IMF won’t like it. Guess they will seek ‘support’ from brotherly countries to pay for it.
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Az_Iz May 16, 2023 08:16am
Buy it high. Sell it low. Then these lousy politicians go around begging for loans and dole outs from friendly and brotherly countries, who have started shutting their doors, politely. Soon they will start shutting their doors in their faces, and if these guys still persist , they’ll start kicking them out.
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Ulgen May 19, 2023 03:48am
Punjab dominated army and government broke up Pakistan in 1971. And now they are at it again. Best thing for Pakistan might be in another break up and make Punjab a land locked country.
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