The ministry of energy and petroleum has forwarded clearance for an increase in the margins of oil marketing companies (OMCs) to the Economic Coordination Committee (ECC) after protests from petroleum dealers, a spokeswoman said on Thursday.
“In the past, the dealers’ margin has increased by Rs0.20,” he said, adding that this time a request for an increase of Rs0.99 has been made to “balance all prior losses sustained by the dealers.”
The Pakistan Petroleum Dealers Association (PPDA) stated on Wednesday that they would embark on a nationwide strike starting today (November 25) and lasting indefinitely to protest what they describe as “poor profit margins.”
The group has said that they would not engage in discussions with authorities unless their profit margins on the sale of petroleum products are enhanced by 6%.
However, the Ministry of Energy (Petroleum Division) confirmed right once that all fuel stations around the nation will stay open.
The ministry does not support putting new burdens on individuals, according to the spokeswoman.
“Pakistan’s major oil marketing companies (OMCs) are attempting to persuade other fuel pump owners to keep their pumps open.
Many dealers are ready to open their pumps, according to the official, but they are being blocked.
Furthermore, he said that margins would be established every six months in the future, taking into account the country’s inflation numbers.
The Oil and Gas Regulatory Authority (OGRA) has finalized a strategy to assuage people’s concerns, according to the spokeswoman, who also said that the country’s oil supply is now ample.
Meanwhile, the majority of the state-owned Pakistan State Oil (PSO) fuel outlets remained operational Wednesday, according to the Ministry of Energy.
“Orders have been given for the remaining PSO fuel stations to be opened,” added the spokeswoman.
Federal Minister for Energy Hammad Azhar and CEO of Gas & Oil Pakistan (GOP) Khalid Riaz, on the other hand, met today. Riaz then said that instructions had been made to reopen the remaining gas stations around the nation.
‘The government would not increase the price of petroleum goods by Rs9 per liter,’ says the statement.
Azhar warned earlier today that the government will not yield to the PPDA’s “illegitimate demands,” referring to the PPDA’s demand for a higher margin.
“Some organizations demand an Rs9 increase in petroleum product prices,” the minister disclosed. “To please a few corporations, the government would not raise the price of petroleum goods by Rs9 per liter.”
Azhar slammed the gasoline merchants’ demand, saying it was regrettable that they were causing problems for the average man.
The energy minister said that he had previously presented a brief to the Economic Coordination Committee (ECC) in order to raise the margin on petroleum product sales.
“A decision will be made in this respect at the next meeting.” Only genuine requests, however, would be met, he added.
He said that the government was aware of the hardships faced by fuel pump owners, but that they should also be mindful of the difficulties faced by the general public as a result of the strike and rethink their decision.