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ECC raises profit margin for dealers, oil marketing companies

SAMAA | - Posted: Aug 16, 2011 | Last Updated: 10 years ago
SAMAA |
Posted: Aug 16, 2011 | Last Updated: 10 years ago

Staff ReportISLAMABAD: The Economic Coordination Committee (ECC) has approved 43 percent hike in margin of profit for dealers and oil marketing companies on petroleum products. The decision was made at a meeting chaired by Federal Finance Minister Dr. Abdul Hafeez Sheikh in Islamabad today. The committee also sanctioned 48 paisa increase on petrol in commission of oil marketing companies, 41 paisa on diesel. Similarly, dealers’ commission has been increased by 50 paisa per liter on petrol and 70 paisa per liter on diesel. The decision is set to affect the current oil prices, which will go up at the same rate. Meanwhile, it deferred a plan to increase the CNG tariff by Rs.5 per kilogram and LPG tariff by Rs.10 per kilogram.In addition, the committee accorded its approval to LNG Policy 2011, under which import of LNG and its sale and purchase will be open. SAMAA

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