ECC approves hike in petrol, diesel dealers’ margin

ISLAMABAD: The Economic Coordination Committee (ECC) has approved an increase in the dealers’ margin on petrol and diesel by Rs1.34 per litre.

According to sources, the dealers’ margin on both petrol and diesel has been raised from Rs8.64 to Rs9.98 per litre.

Vice Chairman of the All Pakistan Petrol Pumps Owners Association Nauman Butt thanked the prime minister and petroleum minister for approving the increase.

The association said the government had fulfilled its long-standing demand by increasing the dealers’ margin by Rs1.34 per litre.

Meanwhile, the government collected more petroleum levy revenue than both its target and the International Monetary Fund’s (IMF) estimate during the last fiscal year.

According to Finance Ministry sources, petroleum levy collections exceeded Rs1.56 trillion during the previous fiscal year. More than Rs50 billion was also collected under the Climate Support Levy.

Petroleum levy collections were around Rs100 billion higher than the government’s target and Rs21 billion above the IMF’s estimate.

At present, a petroleum levy of Rs80 per litre is being charged on petrol. High-Speed Diesel carries a levy of Rs77.28 per litre.

In addition, a separate Climate Support Levy of Rs5 per litre is being imposed on both petrol and diesel.