Petrol prices in Pakistan to be reduced in coming weeks: finance adviser

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin said on Friday that the petrol prices in Pakistan will be reduced in the coming weeks.

In an interview given to a foreign Urdu website, Shaukat Tarin said that the government is bringing a mini-budget next week under an agreement with the International Monetary Fund (IMF). “Tax exemption on food items will not end. Customs duty on make-up items, clothes, shoes, and other imported luxury items including perfumes will be increased,” he added. 

The finance adviser also maintained that customs duty on make-up items, clothes, shoes and other imported luxury items including perfumes would be increased in the mini-budget, adding that besides raising the sales tax rate on some locally manufactured items will be increased from 12 per cent to 17 per cent. 

“Petrol prices had not come down till now after falling prices in the world market, however, petrol prices in Pakistan will be reduced in the coming weeks,” the finance adviser further said.