Islamabad: The Pakistani government has announced a significant reduction in fuel prices, making it a positive day for the nation. The price of petrol has been cut by Rs2.04 per litre, resulting in a new price of Rs281.34 per litre.
High-Speed Diesel users will also benefit from a substantial decrease of Rs6.47 per litre, bringing the diesel price down to Rs296.71. Kerosene prices have seen a reduction of Rs6.07 per litre, with the new price standing at Rs204.98. Light Diesel Oil users can also rejoice as the price has been slashed by Rs9.01, now priced at Rs180.45.
This reduction comes amidst two significant developments for Pakistan. Firstly, the country has successfully reached a staff-level agreement with the International Monetary Fund, signaling positive economic progress. Secondly, the interim government has implemented a zero general sales tax (GST) on all petroleum products, coupled with a petroleum levy (PL) rate of Rs60 per litre for both petrol and diesel.