Petrol, diesel prices for April

ISLAMABAD: The federal government has deferred the decision to increase the prices of petroleum products for the next 15 days of April, ARY News reported on Thursday.

The federal government has retained the prices of petroleum products for the next 15 days of April following the February 28 decision of Prime Minister Imran Khan.

According to the notification issued by the Finance Ministry, the petrol price was retained at Rs149.86 litre, high-speed diesel (HSD) at Rs144.15, kerosene oil at Rs125.56 and light diesel at Rs118.31.

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The previous POL prices will remain in effect from April 1 to 15. The notification read that the federal government will bear the financial burden of Rs33 billion for retaining the previous POL prices.

On February 28, PM Imran Khan had announced a massive reduction in petrol and diesel prices up to Rs10 per litre besides bringing down the electricity tariff up to Rs5 per unit.

He had unveiled a relief package for the nationals including the reduction in petrol prices, power tariff, tax exemptions for the IT sector and others.

READ: EXCESS TAX COLLECTION HELPED IN PETROL, ELECTRICITY SUBSIDIES: PM IMRAN KHAN

The premier had announced not to increase the petrol and electricity prices till the next budget.

On March 2, the Federal Board of Revenue (FBR) had notified the sales tax rate on all key petroleum products.

According to a notification put out by the tax collecting body, the sales tax rate on petrol, high-speed diesel, light-speed diesel, and kerosene oil had been cut to zero to provide “relief to the masses”.