ISLAMABAD    -   The federal govern­ment on Friday has announced to reduce petroleum products prices by up to Rs12.63 per litre and one month extension in filing in­come tax returns.

Address a press con­ference, Finance Min­ister Ishaq Dar has an­nounced to reduce the oil products for next fortnight. The government has reduced the petrol price by Rs12.63 per litre to Rs224.8 per li­tre and High Speed Diesel by Rs12.13 per litre to Rs235.3 per litre. Meanwhile, it has decreased the kerosene oil price by Rs10.19 per litre to Rs191.83 per litre and light diesel oil by Rs10.78 per li­tre to Rs186.50 per litre. The government has cut the oil products prices after decline in its prices in internation­al market. Finance minister also announced that Federal Board of Revenue (FBR) has achieved the first quarter tax collection target. The FBR has collected Rs1635 billion in July to September of the current fiscal year as against the target of Rs1609 billion