ECC to approve hike in OMCs’ margins
Considers proposal to allow interim increase of 6.5% on sale of petroleum products
Committee had recommended increase in margins of petrol and diesel by Rs0.19 per litre to Rs3 per litre each for OMCs. PHOTO: FILE
ISLAMABAD:
The Economic Coordination Committee (ECC) is likely to allow interim increase in margins of oil marketing companies (OMCs) by 6.5% on sale of petroleum products.
Earlier, the ECC had considered a proposal to hike margins of OMCs. However, it had constituted a committee to analyse and examine the margins historically before taking any decision.
The economic decision making body was informed that a study was not conducted by Pakistan Institute of Development Economics (PIDE) as the Oil and Gas Regulatory Authority (Ogra) and Planning Commission were not ready to bear the expenses.