ISLAMABAD
A day after resuming the ministry, Finance Minister, Senator Mohammad Ishaq Dar here on Saturday announced reduction in prices of petrol and diesel by Rs 1.80 and Rs 2.50 per litre, respectively with immediate effect.
The finance minister said it has been decided with the approval of the prime minister that the price of petrol will be decreased by Rs 1.80 per litre and price of diesel will be decreased by Rs 2.50 per litre. The new prices will be Rs 69.50 litre for petrol and Rs 77.40 per litre for diesel (HSD).
The finance minister said that rates of kerosene oil and LDO will not be increased even though a substantial increase has been recommended in their prices. He said that considering the low income consumers using these products, it has been decided to maintain their prices at the current level (Rs 44 per liter).
The minister added that the decision to revise the prices for the month of August could not be taken on August 31, 2017, as there was no federal cabinet on that date.
The prices during the first five days of August therefore continued at the level prevalent in July 2017. The new prices are fixed up till August 31.
