Petrol and diesel prices in Pakistan are set to rise yet again, as the Economic Coordination Committee (ECC) recently gave the green light to increase the profit margins for petroleum dealers and oil marketing companies (OMCs).
Interim government’s approval
The move, approved by the caretaker government, will see the sale margin for petrol and diesel rise by Rs3.5 per litre, likely taking effect on September 15.
The decision was made during a session of the ECC, presided over by Caretaker Finance Minister Shamshad Akhtar. The rationale behind this increase is to provide relief to petroleum dealers and OMCs, facing economic challenges due to rising global oil prices and the associated cost pressures.
Also read: Interim Government Hikes Petrol Price By Nearly Rs.15, Diesel By Rs.18 From September 1st
However, such price hikes are met with mixed reactions from the public, as they directly impact ordinary citizens’ cost of living and transportation. As fuel prices continue to fluctuate, it remains crucial for governments to strike a balance between supporting industry players and ensuring affordability for the masses.
What do you think of the story? Let us know in the comments section below!
