ISLAMABAD: The Economic Coordination Committee (ECC) has approved an increase in the margins of petroleum dealers following a detailed review of a proposal submitted by the Petroleum Division.
The ECC meeting reviewed the margins applicable to dealers of petrol and high-speed diesel. The Petroleum Division presented a summary seeking a revision in dealers’ margins, which was subsequently approved by the committee.
Federal ministers Rana Tanveer Hussain, Ali Pervez Malik and Ahsan Khan Cheema attended the meeting, along with federal secretaries and senior officials from the relevant ministries.
The decision comes after petroleum dealers postponed a planned nationwide strike following assurances from the petroleum minister regarding an increase in their profit margins.
Pakistan Petroleum Dealers Association Chairman Malik Khuda Baksh said the minister had assured dealers of an increase of Rs1.34 per litre after speaking with him by telephone. He said the minister had also sought special approval from the prime minister and called an ECC meeting to consider the matter.
Dealers had earlier demanded an 8% increase in their profit margin, while representatives said a 4% to 5% increase would be justified based on inflation.
According to PPD Association Vice Chairman Tariq Hassan, the approved increase will raise the dealers’ petrol margin to around Rs10 per litre.
Hassan also said the government was working on a plan to digitize all petrol pumps by March 23, 2027. He added that a special committee was being formed to examine the quota system operated by oil marketing companies.
Meanwhile, the Petroleum Ministry has reportedly submitted a proposal to the prime minister concerning a shift to a system under which petroleum prices could be revised more frequently.
Hassan said the existing mechanism could potentially be changed to allow price adjustments every seven days instead of daily, although the final decision would rest with the ECC and federal cabinet after consideration of the summary.
