Daily Times

Newly appointed Finance Minister Ishaq Dar on Friday slashed the price of petrol by Rs12.63 per litre giving massive relief to the inflation-weary people.

Addressing his maiden press conference as the finance minister in Islamabad, Ishaq Dar said that the decision to reduce prices of petroleum products has been taken after consultation with Prime Minister Shehbaz Sharif.

It should be noted that the new prices will come into effect from today (Saturday).

Following the changes in the prices, petrol will now be available for Rs224.80 per litre from October 1 (today).

Meanwhile, there is also a decrease of Rs12.13 in the price of high-speed diesel, after which the new price will stand at Rs235.30 per litre. The price of light diesel oil will be Rs191.83 after a decrease of Rs10.19 per litre. Moreover, the finance minister also announced a 31-day extension in the date of filing tax returns.

He said Rs685 billion had been collected in taxes in the month of September, while in the third quarter Rs1,635 billion were collected against the target of Rs1,609 billion. He said Rs685 billion had been collected in taxes in the month of September, while in the third quarter Rs1,635 billion were collected against the target of Rs1,609 billion.

The minister also underlined that several individuals were facing problems in filing tax returns due to floods and they requested the government to announce an extension in the date.

“In view of the request made by trade bodies and businessmen, we are extending the date for filing income tax returns by a month till Oct 31, 2022. I appeal everyone to file their returns by the new deadline,” Dar added.

Shortly after the minister announced the reduction in petrol prices, the PML-N’s official Twitter account tweeted that “more awami relief on its way, Insha’Allah”.