Oil Prices Will Remain Unchanged For The Next Two Weeks, According To Finance Minister.

 The Minister of Finance says that the rate will remain the same despite the increase in international prices

The federal government has decided to keep current prices for petroleum products unchanged for the next two weeks.
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Government of Pakistan has decided to keep current prices of petroleum products unchanged from 1st January to 15th January 2023 to relieve the common man, Finance Minister Ishaq Dar said in a tweet on Saturday.

The finance minister said prices had not changed despite rising global oil prices.

Earlier this month, the federal government cut the prices of petroleum products by up to 10 rupees per liter. Finance Minister Ishaq Dar said in a tweet that the government has reduced the price of high-speed diesel by 7.50 rupees per liter.

The government reduced the price of petrol by 10 rupees per liter, kerosene by 10 rupees per liter and light diesel by 10 rupees per liter.

After the fall in the prices of petroleum products, the high-speed diesel will sell at Rs 227.80 per liter. Petrol will be available at Rs 214.80 per liter after the price cut. after the price drop\.

The government has pledged to the International Monetary Fund (IMF) to impose the General Sales Tax (GST) on petroleum products once it reaches the maximum petroleum tax which was Rs 50 per liter on each product tanker.

The government imposes a petroleum tax of Rs 50 per liter on gasoline, Rs 25 per liter on HSD, Rs 7.01 per liter on kerosene and Rs 15.39 per liter on LDO.

However, the government has promised the international lender to increase the oil tax on HSD to Rs 50 by April 2023.