Introduction

Petrol Price Slashed in Pakistan, In a recent initiative caretaker government has implemented a significant reduction in petrol prices by Rs 8 per liter for the next two weeks starting from January 16, According to a notification by the Finance Department, the decision is in accordance with recommendations of the Petroleum Management Agency Authorization.

Petrol Price Slashed in Pakistan

The new ex-depot gasoline price  is now Rs 259.34/liter, down from the previous Rs 267.34/liter, While fast diesel prices remained unchanged,  no adjustment was mentioned in light diesel and kerosene prices, the reduction is aimed at managing inflation as the government has reached the maximum  limit on oil tax of Rs 60 per litre.

Conclusion

Despite the budget target of 869 billion rupees for oil tax collection this financial year, the government plans to exceed 950 billion rupees by June, meeting its commitments to the International Monetary Fund (IMF), Currently, the government imposes a tax of around Rs 82 per liter  on high-speed petrol and  diesel, along with additional charges in the form of oil extraction tax.