ISLAMABAD: Federal government on Monday decided to slash the ex-depot price of high speed diesel (HSD) by Rs 30 per litre, and Rs 12 per litre on other petroleum products for next fortnight with effect from May 16 to May 31. The government has kept petroleum levy (PL) on petrol and HSD at maximum limited of Rs 50 per litre; however, it reduced the PL rates on kerosene oil (SKO) and light diesel oil (LDO) to provide maximum relief to masses. The PL on SKO has been fixed at 19 paisa from Rs 24.65 and Rs 7.18 per litre PL on LDO.

Finance Minister Ishaq Dar in his televised statement announced that Prime Minister Shehbaz Sharif and his government are striving to provide maximum relief to the masses on the basis of decrease in the prices of petroleum products in the international market. Dar added that in the next fortnight (May 16-31), the price of petrol is reduced by Rs 12 per litre to Rs 270 per litre from Rs 282. The rate of HSD is reduced by Rs 30 per litre to Rs 258 per litre from Rs 288 per litre.

Ishaq Dar announces reduction of Rs12 in petrol price, diesel’s rate cut by Rs30

He maintained that SKO is reduced by Rs 12 per litre to Rs 164.07 from Rs 176.07, while LDO by Rs 12 to Rs 152.68 from Rs 164.68 per litre.

He urged the transporters to pass on the relief to the masses. He said that transporters are requested to pass on direct and indirect relief to the people in the form of fare and transportation of essential commodities such as vegetables and other food items.

The price of petrol has been reduced by 4percent, HSD by 10 percent, kerosene oil by 6 percent, and LDO by 7 percent.

Copyright Business Recorder, 2023