ISLAMABAD: The government has decreased the price of petrol by Rs2 and same for per liter high speed diesel, this was announced by Finance Minister Asad Umar while announcing the POL prices for next month (December 2018) to be applicable from today mid-night.
At a press conference along with Minister of Planning Khusro Bakhtyar and Minister of State for Revenue Hammad Azhar, Finance Minister Asad Umar said price of petrol and diesel has been decreased by 2 rupees per liter while kerosene oil by 3 rupees.
The price of Light Diesel Oil has been brought down by 5 rupees per liter.
He said petroleum levy has reached at the level of 8-10 percent while the sales tax is 8 percent on petrol and 13 percent on diesel.
The finance minister said the government is devising policies for the benefit of common man and this price reduction is a step in that direction.
Referring to hike in the price of dollar vis-a-vis rupee, he said the previous governments used foreign loans to stabilize the national currency against dollar.
The finance minister said no effort was made to strengthen the structural foundations of the economy.
He said the issue of increase in dollar is linked with demand and supply.
Asad Umar said the present government has set the economic direction of the country and the positive results of our policies will start becoming visible soon.
The Minister said we need to enhance our exports in order to earn valuable foreign exchange.