The Economic Coordination Committee on Friday approved a revision in dealers’ margins on motor spirit and high-speed diesel, leading to petroleum dealers calling off a planned strike that was set to commence from today (Saturday).
The ECC meeting, chaired by Finance Minister Muhammad Aurangzeb at the Finance Division, considered a summary submitted by the Petroleum Division and deliberated on the revision of dealers’ margins.
Following the ECCs approval, All Pakistan Petrol Pumps Owners Association (APPPOA) Vice Chairman Nauman Butt thanked Prime Minister Shehbaz Sharif and Petroleum Minister Ali Pervaiz Malik for increasing the dealers’ margin.
He said the government had fulfilled a longstanding demand of the association, affirming that the margin on petrol and diesel had been increased by Rs. 1.34 to Rs. 9.98/liter. The revised margin is scheduled to take effect from Sept. 1.
Earlier this week, the Pakistan Petroleum Dealers Association had issued a 72-hour ultimatum to the government to fulfil promises made by the petroleum minister to resolve their issues, particularly those pertaining to their margins. The increased margin would result in higher fuel costs for consumers.