ISLAMABAD: The Economic Coordination Committee (ECC) has sanctioned a 5 to 10 percent boost in profit margins for oil marketing companies (OMCs) and fuel dealers, which could potentially push petrol and diesel prices up by as much as Rs. 2.56 per liter.
The decision was made during an ECC meeting on Tuesday, chaired by Finance Minister Muhammad Zubair, where approval was given to increase the margins earned by OMCs and dealers on petroleum products.
As per an official statement, the ECC approved the margin hike, with half of the increase to be implemented immediately and the remaining half contingent on the adoption of digitalization measures.
Sources indicate that this adjustment in profit margins is likely to lead to a rise in petrol and diesel prices, with an increase of up to Rs. 2.56 per liter possible.
