Finance

Govt announces significant decrease in petroleum prices, extends date to file tax return

Islamabad : Finance Minister Senator Mohammad Ishaq Dar presided meeting of the ECC.
On  fixation of imported Urea  price ,the ECC  approved Dealer Transfer Price (DTP) of 50 kg imported Urea bag at Rs. 2150/bag and incidental charges at Rs. 620.47/bag  with sharing subsidy on imported Urea at 50:50 basis with provinces.  
ECC approved the proposal containing request of M/s Zaver Petroleum Corporation (Pvt) Limited (ZPCL) for assignment of its entire 10%  Working Interest (WI) in Bannu West Block to M/s Orient Petroleum Inc (OPI).
The ECC  granted five years extension w.e.f 2nd April, 2022 in the validity period of development and production lease of Zamzama D&PL, on the existing terms and conditions.
The ECC granted extension in the validity period of the eighteen (18) exploration licenses.
The  ECC approved tariff rationalization by way of adjustments for K-Electric to maintain the uniform tariff across the country at Rs. 0.5087/unit.
The ECC  approved summary for Ministry of Commerce and  allowed release of consignments of previously banned items for which Goods Declaration (GDs) have been filed on or after 22 August, 2022.

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