Lahore: Finance Minister Senator Muhammad Ishaq Dar Thursday said the government would provide subsidy of about Rs 1.5 billion to keep prices of some petroleum products unchanged during the month of April.
Talking to media, Dar said the Oil and Gas Regulatory Authority (OGRA) in its summary had suggested an increase in prices of all petroleum products.
However, the Prime Minister rejected the summary and directed to provide relief to the public.
Only the prices of MS (petrol) and high speed diesel had been marginally increased by Rs 1.50 and Rs 1.40 per litre respectively with effect from April 1, while those of other items would remain the same, he added.
Ishaq Dar said petrol would now be available at Rs 64.27 and high speed diesel at Rs 72.52. However, there had been no change in the prices of HoBC, Kerosene and Light Diesel Oil.He said that the Oil and Gas Regulatory Authority (OGRA) in its summary had proposed increase of petrol from Rs.62.77 to Rs.65.86, an increase of Rs.3.09, HOBC from Rs.72.68 to 77.35, an increase of Rs.4.67, Kerosene from Rs.43.25 to Rs.48.89, an increase of Rs.5.64, High Speed Diesel from Rs.71.12 to Rs.72.52, an increase of Rs.1.4, and Light diesel Oil from Rs.37.97 to Rs.42.88, an increase of Rs.4.91.
The minister also said that the last date for filing of tax returns by traders under the Voluntary Tax Compliance Scheme was extended till April 30. The concessionary rate of 0.4% withholding
tax would continue to apply during the month of April, he added.
He said instructions had been issued to State Bank of Pakistan to make payments for $500 million Euro bond issued by Pakistan in 2006 (maturing on March 31, 2016). Accordingly with this payment, Pakistan’s external debt would stand reduced by $500 million, the minister added.