Monday October 02, 2023

OMCs’ margins revision urged

By Our Correspondent
May 16, 2023

KARACHI: The Petroleum Division on Monday sought the comments from the Oil and Gas Regulatory Authority (OGRA) over the demand of oil marketing companies (OMCs) to raise their margins on motor spirit (MS) and high speed diesel (HSD).

The Petroleum Division in a letter to OGRA stated that margins of OMCs were revised in August 2022 up to Rs6 on MS and HSD, while the Oil Companies Advisory Council (OCAC) has now sought revision in the margins up to Rs12/litre on both products.

The division asked OGRA to consider the issue under the provision of Petroleum Products (Petroleum Levy) Ordinance 1961 and give its input in this regard.