News

Government announces reduction in petroleum prices

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ISLAMABAD: Finance Minister Asad Umar on Friday, announced to cut down the petroleum prices for the month of December, ARY News reported.

The minister announced to cut the prices of petrol and diesel by rupees 2 per liter, while gasoline price was cut by rupees 3 per liter.

Addressing a press conference here in Islamabad today, the minister said, the government is utilizing all its available resources , to provide relief to the common man in present ‘crunch’ economic situation.

The new rates  of the petroleum prices will be enforced today midnight countrywide.

” Sales tax on the petroleum products has been reduced to 8 percent”, the minister said.

The  minister held past rulers responsible for the exports drop and said due to wrong policies of PML-N government, the country’s economy is passing through ‘critical’ time.

“Prime minister’s prime focus is to steer country out of economic crises by boosting local exports”, he continued.

Focusing on the dollar serge, Mr. Umar said, demand of dollar is high while its supply is low.