Petroleum prices to remain unchanged in October: Ishaq Dar

BusinessPetroleum prices to remain unchanged in October: Ishaq Dar

ISLAMABAD, Pakistan: The prices of POL products will remain unchanged in October 2015, the Federal Finance Minister Ishaq Dar announced on Wednesday.

Petroleum prices to remain unchanged in October: Ishaq Dar
Federal Finance Minister Ishaq Dar

In a press conference in Islamabad, the minister said that the Oil and Gas Regulatory Authority (OGRA) had recommended nominal decrease of 15 paisa in the price of petrol and Rs2.51 to Rs2.99 increase or decrease in prices of other products.

However, he said, after consultations with Prime Minister Nawaz Sharif on telephone in New York, it has been decided to keep the prices of POL products unchanged for the next month.

The minister also announced that the last date for filing of Income Tax Returns has been extended till October 31.

Ishaq Dar said that the concessional rate of withholding tax on banking transactions for non-filers would also remain applicable for another month at the demand of traders.

The finance minister said that the rate of withholding tax for non-filers was 0.6 percent which was reduced to 0.3 percent till today. He said that in its meeting in Islamabad today, the Economic Coordination Committee (ECC) decided to extend the date till October 31.

In reply to a question, the minister categorically stated that the withholding tax on banking transactions would not be withdrawn. He said that the tax is applicable only on non-filers while filers can claim exemption by mentioning tax number on every transaction.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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