It was recommended to increase dealer margin on petrol to Rs 4.90 per litre and dealer margin on diesel to Rs 4.13 per litre. Earlier Petroleum Dealers and Petroleum Division agreed to increase petrol margin by 99 paise.
Islamabad: The Economic Coordination Committee (ECC) has approved a summary of the increase in dealer margin on petroleum products. An increase of 99 paise in petrol margin was agreed upon.
According to details, a meeting of the Economic Coordination Committee was held under the chairmanship of Federal Minister Omar Ayub.
It was stated in the meeting that due to inflation and rising interest rates, dealers’ expenses have increased by 100%. After negotiations, the Petroleum Division had agreed to increase the margin on petrol by 99 paise per litre.
The summary recommended increasing dealers’ margin by 99 paise per litre on Petrol and 83 paise per litre on Diesel. The summary recommended that dealer margin on petrol be increased from Rs 3.91 to Rs 4.90 per litre and dealer margin on diesel from Rs 3.30 to Rs 4.13 per litre.
It may be recalled that on November 26, after several consultative meetings of the Petroleum Division with the Pakistan Petroleum Dealers Association, the strike was called off by the Dealers Association. Appreciated the proposal to increase the margin by 83 paise or 3 rupees 30 paise per litre.
The proposed 25 per cent increase in dealers’ profits would cover past delays in revising profits, and would help dealers mitigate the effects of inflation, the Petroleum Division had assured dealers.
Minister said that he would put all his efforts before the Economic Co-ordination Committee of the Cabinet and the Federal Cabinet to oppose the proposed 25% increase in current profits so that the petroleum dealers could get this relief in a valuable form and increase their profits.