ISLAMABAD: The government has passed on partial relief to the end buyers by
reducing the prices of the petroleum products almost 50 % of actual reduction for a fortnight (December 16-December 30). The reduction in the rates of petroleum products will bring atleast some immediate relief to inflation stricken people . The reduction may sieze rising trend in the prices of edibles and other items of daily use.
The government formally notified the new prices of the petroleum products on Wednesday. Finance Division issued a notification for reduction in the prices of the petroleum prices.
As per the notification, the light diesel rates have been reduced by Rs 7.01 per liter. Its new rates have been fixed at Rs 107.06 a liter. The
petrol prices with a reduction of Rs 5 has been fixed at Rs 140.82 per liter.
High speed diesel rates went down by Rs 5. Its new rates have been fixed at Rs 137.62 per liter. Similarly,
kerosin oil became cheaper by Rs 7 a liter. Its new rates for current fortnight have been fixed at Rs 109.53 per liter.
The government kept petroleum levy (PL) and sales tax unchanged which deprived the end buyers of almost half of the benefit of reduction in petroleum products in the international market. The self explanatory statement of the Finance Division in this regard narrates the real story. It said “The rates have been reduced in view of the declining price trend of petroleum products in global market and to transform the impact to the masses,”
