A proposal to increase the profit margins of oil marketing companies (OMCs) and fuel dealers has been forwarded to the Economic Coordination Committee (ECC), which will make the final decision. If approved, petrol and diesel prices may rise by up to Rs 2.40 per liter due to the enhanced profit margins.
According to the summary sent to the ECC, it has been suggested that the profit margin for both OMCs and dealers be increased from the current Rs 1.10 to Rs 1.28 per liter. Officials stated that this adjustment is being considered to address the rising operational costs of fuel distribution and the demands made by industry stakeholders.
Currently, OMCs earn Rs 7.87 per liter on both petrol and diesel. Dealers also receive a commission of Rs 8.64 per liter on these fuels. Any changes approved by the ECC will require final endorsement from the federal cabinet before implementation.
In a related development, the Asian Development Bank (ADB) has approved a loan of $381 million for Pakistan, which is expected to assist with ongoing economic and development projects.
Once the ECC and the federal cabinet give their approval, the new profit structure will come into effect, potentially impacting fuel prices across the country. The proposal has sparked public interest due to the already rising cost of living and the expected effect on transportation and daily expenses.
Further updates will be announced following the ECC’s final decision.
