The Economic Coordination Committee (ECC), chaired by Finance Minister Muhammad Aurangzeb, on Tuesday approved adjustments in profit margins for petroleum companies and petrol pump dealers, allowing an increase of 5 to 10 per cent.

Sources said this move could push petrol and diesel prices up by up to Rs2.40 per litre.

The ECC decided that half of the margin increase will take effect immediately, while the remaining half will depend on progress in digitisation.

The Petroleum Division has been directed to submit a progress report by June 1, 2026. Simultaneously, the Power Division was instructed to prepare a medium-term plan to gradually reduce financial support.

The committee also approved changes to vehicle import rules, extending the allowed import period from two to three years.

Imported vehicles cannot be transferred to another owner for one year, except in cases of residential relocation or gift schemes.

Additional decisions included a ban on chloroform imports, which will now be allowed only for pharmaceutical companies with approval from the National Regulatory Authority, and rejection of a subsidised gas rate request for a glass manufacturing company.

The ECC also cleared additional funding of Rs1.28 billion for the Pakistan Digital Authority and approved extra development funds for the Cabinet Division.