Meanwhile, oil marketing companies (OMCs) have called for a 60 percent increase in their profit margins. In Islamabad, some officials not belonging to the Petroleum Division, Federal Board of Revenue, Finance Ministry, or Ogra were seen interacting with dealers to convince them to call off the strike. OMCs demand higher marginsMeanwhile, the oil marketing companies have formally demanded an increase in their profit margin on petrol and diesel sales to Rs12.65 per liter from Rs7.87 at present, up by 60%. A dealers’ group from Lahore and Rawalpindi, identifying as the Reformers Group of the PPDA, announced they would not participate in the July 5 strike. “We reject the strike call by some dealers in Karachi because they are working for the interests of oil marketing companies and not concerned about their own community.”

Source: The Nation July 05, 2024 06:42 UTC