The Economic Coordination Committee (ECC) today approved a proposal to revise the margins of OMCs and petroleum dealers on MS and HSD, adjusting them in line with the National CPI for 2023–24 and 2024–25, with increases capped between 5 and 10 percent.
Half of the increase will be paid immediately, while the remaining half will depend on digitization progress. The Petroleum Division is required to report back by June 1, 2026.
Sources said petrol and diesel prices will rise by Rs. 2.56 per liter, with Rs. 1.28 per liter applied immediately. The OMC margin on petrol will increase by Rs. 1.22 per liter, while dealer commission on diesel will go up by Rs. 1.34 per liter.
On the Circular Debt Management Plan for FY 2025–26, the ECC directed the Power Division, in coordination with the Finance Division, to develop a medium-term plan to gradually reduce fiscal support and establish a follow-up mechanism with DISCOs to ensure delivery of committed targets.
The ECC also approved amendments to the vehicle import procedure, retaining only the Transfer of Residence and Gift schemes. Commercial-import safety and environmental standards will now apply, the intervening import period will extend from two to three years, and imported vehicles will remain non-transferable for one year.
Other key decisions include:
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Restricting chloroform imports to pharmaceutical companies with a DRAP-issued NOC due to its toxic and carcinogenic nature.
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Rejecting a request by M/s Ghani Glass for a concessionary gas/RLNG tariff, citing that such subsidies are no longer permissible and broader export-support initiatives are underway.
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Approving a Technical Supplementary Grant (TSG) of PKR 1.28 billion for the Pakistan Digital Authority (PDA) to facilitate digital transformation across government departments.
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Allocating Rs. 5 billion to the Housing and Works Division through a TSG for the current fiscal year.
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Creating a special-purpose company to wind up PASSCO and settle its remaining liabilities, with necessary regulatory exemptions and interim management.
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Granting in-principle approval for budgetary allocations to PIA Holding Company Ltd. (PIAHCL) to meet pension and medical-related expenses of PIACL employees.
The meeting was attended by Federal Ministers for Petroleum, Power, and Investment Board, along with federal secretaries and senior officials from the concerned ministries, divisions, and regulatory bodies.
Devestation after Devestation for the poor of the country
Damn it!
When did you last hear any good news in this country? I cannot remember.