Islamabad: Finance Minister Ishaq Dar announced that there would be no change in price of petroleum products for next fortnight. “Government has decided that price of petroleum products of October 16 will be maintained for next 15 days. There will be no change in them,” he said in a press conference here.

Current price of petrol is Rs 224.80 per litre, Rs 235.30 for HSD, Rs 186.50 for LDO and Rs 191.83 for kerosene. On October 15, too, government had decided to keep petrol price unchanged.

During his brief media talk, Dar said, “Since it got a lot of representation from different groups, we have decided to extend date to November 30 for filing returns.” This is second extension issued by Federal Board of Revenue. Earlier, board extended date for filing income tax returns for individuals and companies till October 31.

He said that there were around 8,000 cases of suspended letters of credit (LCs) two weeks back. “Previously, government had announced that LCs and payments of up to $ 50,000 would be released.

“I had a meeting with State Bank of Pakistan Governor and we have decided, with involvement of SBP, that we will increase this amount to $ 100,000. SBP will start clearing them tomorrow,” Dar said. He added that 4,400 out of 8,000 LCs had been cleared and new move would further clear 1,365 cases.

Published in The Daily National Courier, October, 31 2022

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.