SBP caps bank charges on digital sales of petroleum products to minimise burden on fuel stations

ISLAMABAD: Following demands from petroleum dealers, the State Bank of Pakistan (SBP) has capped bank charges on sales of petroleum products through digital payment methods — including debit and credit cards and online transfers — to minimise the financial burden on fuel stations and promote digital inclusion. Under the decision, merchant discount rates (MDR) for card-based petroleum transactions have been capped at a maximum of Re1 per litre, while charges on online transactions conducted through QR codes and Raast have been capped at 20 paisas per litre. Earlier, banks charged these transaction fees at their discretion, with rates varying from bank to bank and customer to customer. The…