ECC okays increased profit margin of petrol dealers, OMCs

ISLAMABAD: The increase in the profit margins of petroleum dealers and the oil marketing companies have on Wednesday been approved by the Economic Coordination Committee (ECC) even when the summary was not part of the meeting agenda today, ARY News reported.

The ECC meeting today included the matter of profit margins of OMCs and petrol dealers as an additional item and okayed the increase which the government had promised them last week after the strike. Now the final approval will be given by the federal cabinet.

For OMCs, the profit margin on petrol and high speed diesel has been increased from Rs2.97 to now Rs3.68. It is an increase of Re0.71 that is pending approval from the cabinet before the revision notification.

Separately, for the petrol dealers, the profit margin on petrol has been upped Re0.99 to now Rs4.90, and on HSD the approved margin is Rs4.13 with an increase of Re0.83.

Petroleum dealers end nationwide strike after successful talks with govt

It is pertinent to note that just few days back, the Pakistan Petroleum Dealers Association (PPDA) had called off their nationwide strike following the successful negotiations with the federal government over an increase in their profit margin.

According to sources, talks between petroleum division and petrol dealers’ remained successful after the federal government agreed over increasing their profit margin by Rs0.99 per litre.