Petrol strike averted as govt gives in to dealers
Hikes owners' profit by 15.5% to Rs10 per litre ECC takes decision in hurriedly called virtual meeting Dealers
On August 15, the government hastily called a virtual meeting to avert a petrol strike called by dealers. The Economic Coordination Committee of the Cabinet approved a 15.5% increase in the profit margins of petrol pump owners, partially rolling back a decision to link profits with sales digitisation. The dealers demanded an 8% per litre margin, but the government settled for a 3% revision, increasing the existing profit margin from Rs8.64 to Rs9.98 per litre.
The Petroleum Division had sent a summary on August 7, but the government waited until the dealers threatened to strike on the 15th. The Petroleum Division informed the committee that the Rs1.34 per litre increase in December was linked to digitisation targets by the Oil and Gas Regulatory Authority. The dealers accepted the government's decision after the meeting, which lasted only a few minutes.
Written by urgent.news from The Express Tribune - Pakistan's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
