Petrol prices will be reduced in the coming weeks, says Shaukat Tareen

Money budget will not end tax exemptions on food items, Shaukat Tareen Photo: File

Islam Abad: Federal Finance Adviser Shaukat Tareen said that petrol prices in Pakistan will be reduced in the coming weeks.

In an interview given to a foreign Urdu website, Shaukat Tareen said that the government is bringing a mini budget next week under an agreement with the IMF, but it will not end the tax exemption on food items. Money budgets will not make food expensive.

Shaukat Tareen said that in the mini-budget, customs duty on make-up items, clothes, shoes and other imported luxury items including perfumes would be increased, besides raising the sales tax rate on some locally manufactured items from 12. The tax will be 17%.

The Finance Adviser said that petrol prices had not come down till now after the fall in prices in the world market but in the coming weeks petrol prices in Pakistan will also be reduced.

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