Pakistan's Economic Coordination Committee (ECC), a cabinet body overseeing economic policy, approved a 15.5 per cent increase in petroleum dealers' margins on Friday, raising the per-litre rate from Rs8.64 to Rs9.98 for both petrol and high-speed diesel. The decision, chaired virtually by Finance Minister Muhammad Aurangzeb, was reached on a public holiday after the Pakistan Petroleum Dealers Association (PPDA) threatened a nationwide strike beginning 15 August unless the government addressed longstanding margin grievances. Following the announcement, the PPDA called off the strike; the revised margin is set to take effect from 1 September.