Govt announces to maintain the prices of petrol & diesel

Islamabad: The government has announced to maintain the prices of petrol and diesel for the next fortnight.

Federal Finance Minister Ishaq Dar, while announcing the prices of petroleum products for the next fortnight, said that after consultation with the Prime Minister, the government has decided to maintain the price of petrol and high-speed diesel.

He said that from December 1 to 15, 2022, diesel will be sold at 235.30 paise per liter while petrol will be sold at Rs. 224.80 paise per liter.

The finance minister said that due to winter, it has been decided to reduce the price of kerosene by 10 rupees per liter and the price of light diesel by 7 and a half rupees.

He said that for the next fortnight, kerosene will be sold at 181.83 paise, while light diesel will be sold at 179 rupees per liter.

Increase in petroleum levy by ten rupees per liter

On the other hand, the government has increased the margins of oil marketing companies on petrol and high-speed diesel, whereby the petroleum levy on high-speed diesel has been increased by Rs 10 per liter along with an adjustment to the old exchange rate.

According to the sources, the government has maintained the GST rate on petroleum products as zero. Earlier, the margin of oil marketing companies on petrol and high-speed diesel was Rs 3.68 per liter, which has now been increased to Rs 5 per liter. The margin of the companies has been increased to Rs.4 per liter while the petroleum levy on high-speed diesel has been increased from Rs.12.69 per liter to Rs.22.69 per liter.

Extension of date for submission of income tax returns

Federal Finance Minister Ishaq Dar said that the date of submission of income tax returns has also been extended till December 15.