Chandigarh: Punjab Chief Minister Charanjit Singh Channi on Sunday announced to slash the prices of Petrol and Diesel by Rs. 10 and Rs. 5 per litre respectively from midnight today.

Talking to the media persons here at Punjab Bhawan after the Cabinet meeting, CM Channi said that with this decision now Punjab has the lowest petrol rates in the region (except UT Chandigarh) and the rates of Diesel in Punjab are also much lower than Haryana and Rajasthan. With this decision, the rate of VAT on Petrol has been reduced from 27.27% (24.79%+10% surcharge) to 15.15% (13.77%+10% surcharge) and on Diesel from 17.57 % (15.93%+10% surcharge) to 10.91% (9.92%+10% surcharge).

Taking a dig at the BJP led government at Centre, CM Channi said that it is really unfortunate on the part of its leadership to slash the prices of petrol and diesel by Rs.5 and Rs. 10 per litre respectively w.e.f November 4, 2021 thereby cutting down the excise duty, which adversely impacts the income of all states including Punjab having 42% share in the excise duty collected by Centre.