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Tuesday February 07, 2023

Latest petrol price in Pakistan from Nov 1

Prices will remain unchanged for the next fortnight and will come into effect from November 1

October 31, 2022
Federal Minister for Finance and Revenue Ishaq Dar speaking during a televised address on October 31, 2022. — YouTube Screengrab via PTV News
Federal Minister for Finance and Revenue Ishaq Dar speaking during a televised address on October 31, 2022. — YouTube Screengrab via PTV News

ISLAMABAD: The Government of Pakistan Monday kept the price of petrol unchanged at Rs224.80 per litre ahead of the International Monetary Fund (IMF) review scheduled in November.

Federal Minister for Finance and Revenue Ishaq Dar announced the development via a televised message.

The price of petrol remained unchanged at Rs224.80 per litre, high-speed diesel at Rs235.30 per litre, and light diesel oil is Rs191.83.

The prices will remain unchanged for the next fortnight and will come into effect from November 1.

Commodity Existing pricesNew pricesSales tax %
Petrol 
Rs224.80
Rs224.80
0.00%
Diesel 
Rs235.30
Rs235.30
0.00%
Kerosene oil
Rs191.83Rs191.83
0.00%
Light diesel oil
Rs186.50
Rs186.50
0.00%

The government last slashed the price of petrol on September 30 by Rs12.63 per litre, giving massive relief to the inflation-stricken people of Pakistan.

Govt, SBP increase limits of pending LCs

The finance minister also said that there were around 8,000 cases of suspended letters of credit (LCs) two weeks ago. Earlier, the government had decided that LCs and payments of up to $50,000 would be released.

“I had a meeting with the State Bank of Pakistan governor and we have decided, with the involvement of the central bank, that we will increase this amount to $100,000. The SBP will start clearing them from tomorrow,” Dar said.

He added that 4,400 out of 8,000 LCs had been cleared and the new move would further clear 1,365 cases.

FBR date extended

Dar also announced the government’s decision to extend the income tax returns filing date till November 30.

The finance minister revealed that the decision has been taken keeping in view the demand of the business community.

This is the second extension issued by the Federal Board of Revenue (FBR). Earlier, the board extended the date for filing income tax returns for individuals and companies till October 31.