ECC hikes petrol, diesel margins for oil marketing companies, dealers |
• Vehicle import rules tightened; only transfer of residence, gift schemes retained, personal baggage scheme discontinued
• Chloroform imports restricted to Drap-certified companies due to health, environmental risks
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has approved an additional Rs2.56 per litre margin for petrol and diesel to boost the profitability of oil marketing companies (OMCs) and their dealers.
A meeting of the ECC, presided over by Finance Minister Muhammad Aurangzeb, also tightened rules for second-hand vehicle imports and restricted the import of chloroform solely to drug companies certified by the regulator.
A senior government official told Dawn that the ECC approved a Rs1.22 per litre increase in profit margins for OMCs and Rs1.34 per litre for petroleum dealers, to be implemented in two equal instalments.
The first increase — 61 paise per litre for OMCs and 67 paise per litre for dealers — will take effect with the upcoming fortnightly price revision. This will immediately raise the OMCs’ margin to Rs8.48 per litre and that of dealers to Rs9.31 per litre.
The second equivalent increase will come into force on........