ISLAMABAD – Pakistanis are likely to be hit by another round of petroleum price hikes for the last 15 days of September as the government approved increasing the margin of petroleum dealers and oil marketing companies (OMCs).
The next petrol bomb on the masses is to defer a nationwide strike as pump owners warned of a strike for an indefinite period, demanding profit margin to be more than doubled from the current level.
The new expected price is likely to hit inflation hit people who are paying record high fuel prices while the caretaker government approved hiking the sale margin of petrol and diesel by Rs3.5 per litre.
Amid the calls of protests, the Economic Coordination Committee (ECC) on Wednesday approved jacking up the margin of petroleum dealers and oil marketing companies (OMCs).
The decision was taken in the session of the Economic Coordination Committee (ECC) chaired by Caretaker Finance Minister Shamshad Akhtar today, The committee approved hiking the petrol and diesel sale margin for OMCs and dealers.
The government decided to increase the petrol and diesel margin by Rs1.87 per litre for OMC, and initially, the sale margin will be increased by Rs0.47 per litre for OMCs.
Furthermore, a Rs1.64 margin hike was approved for the petrol and diesel dealers. In the initial stage, a Rs0.41 per litre hike will be implemented for dealers for the second half of the current month.
No big hike is expected this month as the caretaker setup jacked up the price of petrol by Rs14.9 per litre last month, and currently, petrol reached Rs305.36 per litre.
