The Federal Cabinet Sunday approved increasing the margin of oil companies by 63%.
The Oil Marketing Companies (OMC) Margin of Rs2.32 on Petrol and Diesel was approved by the Cabinet. the OMC margin on Petrol was increased from Rs3.68 to Rs6 per liter.
The approval was taken from the federal cabinet through circulation.
The increase will be subject to financial capacity and prior approval of the Ministry of Finance.