Dar announces Rs 9/litre reduction in petrol and Rs 7/litre in diesel.
“The fuel prices has been decreased by Rs9, from Rs262 to Rs253 per litre. The cost of high-speed fuel has also decreased by Rs 7. The Petroleum Prices have been reduced from Rs260 to Rs253.50,” the minister announced.
Petroleum Products Prices:
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.
— Ishaq Dar (@MIshaqDar50) July 15, 2023
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 prices of one petroleum product had increased while that of another had decreased on the global market.
He said 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 was raised at the International Monetary Fund’s (IMF) request, has not changed, the minister added.
“Prime Minister Shehbaz Sharif has directed us to pass on as much relief as we can to the people, so we are not doing any change in the PDL,” he continued.
Previously, the government maintained the cost of gasoline steady while raising the cost of diesel by Rs7.5 per litre.
