*ISLAMABAD: The prices of petroleum products are likely to go up asEconomic Coordination Committee (ECC) on Thursday approved increase insales and distribution margins of oil marketing companies (OMCs) andpetroleum dealers, ARY News reported citing sources.*
A well-placed source in the finance ministry told ARY News that ECC meetingpresided over by Finance Minister Miftah Ismail here In Islamabad hasaccepted the demands of petroleum dealers OMCs by rasing their sales marginby Rs7 per litre.
The OMCs and petroleum dealers have been seeking an increase in their salesand distribution margins by around 6 per cent to the premise of increase inthe costs of doing business and inflation.
The increase in dealer’s margin will come into effect from August, 1 afterapproval from federal cabinet, they said.
Read Top Stories
Sources in the oil sector said with the government accepting the demands ofthe dealers’ margin and also agreed to enhance the margin of OMCs, thetotal increase would be part of the prices of petrol and diesel, whichmeant these products would be become costlier for the end consumers.
