The Oil and Gas Regulatory Authority (OGRA) has imposed hefty fines on six oil marketing companies (OMCs) for creating an artificial petrol shortage in the country and has put three others on notice.
As per details, OGRA inspection teams conducted a raid at Hascol and HOPL depots in Keemari and Port Qasim, Karachi, on June 9, and found more than 40 million liters petrol hoarded there. In a separate development, Shell Pakistan was also found involved in the hoarding of petrol at its depot in Taru Janna, Peshawar.
FIRs have been launched against these companies and notices have been served. The mentioned OMCs along with a few others have been slapped with hefty fines for violating contracts.
As per details, M/s Shell Pakistan Ltd and Total Parco Pakistan Ltd have been fined for Rs.10 million each, while M/s Hascol Pakistan Ltd, Attock Petroleum Ltd, Gas & Oil Pakistan Ltd, and Puma Energy (Pvt) Ltd were fined Rs. 5 million.
Similarly, show-cause notices have been served to M/s Byco Petroleum Pakistan Ltd, Askari Oil Services Ltd, and Be Energy Ltd and their response is sought.
These OMCs are facing penalties of up to Rs.10 million, payable within 30 days.
Furthermore, the oil and gas regulator has asked these OMCs to improve the supplies to their respective outlets immediately or face stricter action and greater fines.
These show-cause notices were served on June 3, while an inspection of depots, started earlier this week, will continue, said the spokesman of OGRA Imran Ghaznavi.