KARACHI: The oil sector has urged the Oil and Gas Regulatory Authority (Ogra) to revise the margins for oil marketing companies (OMCs) to alleviate growing financial pressures.
In a letter to Ogra’s chairperson, the Oil Companies Advisory Council (OCAC) highlighted several issues, including smuggling, high financing costs, turnover tax, and insufficient margins, all of which are straining the industry. The OCAC pointed out that the last margin adjustment occurred in September 2023, and the revision is now overdue.
The OCAC recommended increasing the OMC margins for high-speed diesel (HSD) and Mogas to Rs12.65 per liter, factoring in the costs of maintaining stock, turnover tax, operating expenses, and other financial burdens.
