Govt increases margin of oil companies by 63%
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The Federal Cabinet Sunday approved to increase the margin of oil companies by 63%, reported 24NewsHD TV channel.
The Oil Marketing Companies (OMC) Margin of Rs2.32 on Petrol and Diesel was approved by the Cabinet.
The approval was taken from the federal cabinet through circulation.
According to the details, the OMC margin on Petrol was increased from Rs3.68 to Rs6 per liter whereas the approval for increasing the OMC margin on Diesel from Rs3.68 to Rs6 per liter was given.
The increase will be subject to financial capacity and prior approval of the Ministry of Finance.
Reporter: Awais Kiyani