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Petrol strike: Vitality ministry sends proposal for growing sellers’ revenue margins by 99 paisas

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— Reuters/File
— Reuters/File
  • Spokesperson says a request for a rise of Rs0.99 has been made which can “offset all past losses incurred by the dealers”.
  • The sellers’ margin has been growing by Rs0.20 previously.
  • “Orders have been issued for opening of remaining PSO pumps,” the spokesperson says.

LAHORE: Following the protest from petroleum sellers, the ministry of power and petroleum has despatched the approval for a rise within the margins of oil advertising firms (OMCs) to the Financial Coordination Committee (ECC), the spokesperson stated on Thursday.

“The dealers’ margin has been increasing by Rs0.20 in the past,” he stated, including that this time a request for a rise of Rs0.99 has been made which can “offset all past losses incurred by the dealers.”

On Wednesday, the Pakistan Petroleum Sellers Affiliation (PPDA) had introduced to go on a national strike from immediately (November 25) until an indefinite interval to register their protest at what they name “low-profit margins”.

The affiliation had stated they won’t maintain talks with authorities until their revenue margins on the sale of petroleum merchandise usually are not elevated by 6%.

Nevertheless, the Ministry of Vitality (Petroleum Division) instantly introduced that every one petrol pumps will stay open throughout the nation.

The spokesperson reiterated that the ministry is just not within the favour of imposing a further burden on individuals.

“Major oil marketing companies (OMCs) of Pakistan, whose petrol pumps are open, are trying to convince other pump owners to keep their pumps open.

The official maintained that many dealers are ready to open their pumps but they are being stopped.

Furthermore, he added that in future as well, margins will be determined after every six months keeping in view the inflation figures in the country.

The Oil and Gas Regulatory Authority (OGRA) has finalised a plan to alleviate people’s worries, the spokesperson said, adding that the oil stock is abundant in the country at present.

Meanwhile, according to the Ministry of Energy, most of the petrol pumps of state-owned Pakistan State Oil (PSO) remained open today.

“Orders have been issued for opening of remaining petrol pumps of PSO,” the spokesperson said.

On the other hand, Federal Minister for Energy Hammad Azhar and Gas & Oil Pakistan (GO) CEO Khalid Riaz held a meeting today. Following which Riaz said that orders have been issued to reopen the rest of the petrol pumps across the country.

‘Govt will not hike prices of petroleum products by Rs9 per litre’

Earlier today, rejecting the PPDA’s demand for rising their margin, Azhar said that the government would not bow to the “illegitimate calls for”.

“Some teams need a hike in costs of petroleum merchandise by Rs9,” revealed the minister. “The federal government won’t hike costs of petroleum merchandise by Rs9 per litre to appease a number of firms.”

Azhar condemned the demand of petroleum dealers, saying that creating difficulties for the common man was unfortunate.

The energy minister said he had already submitted a summary to the Economic Coordination Committee (ECC) to increase the margin on the sale of petroleum products.

“A choice on this regard can be taken by the subsequent assembly. Nevertheless, solely reliable calls for can be fulfilled,” he said.

He stated the federal government was conscious of the difficulties that petrol pump homeowners had been going by, including that they need to additionally realise the difficulties that persons are dealing with as a result of strike and rethink their resolution.

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