Prime Minister Imran Khan has ordered to revoke licenses of oil marketing companies (OMCs) that are involved in hoarding fuel, causing an artificial shortage in the country. The decision was based on the initial inquiry report on the petrol crisis.
Prepared by the Oil and Gas Regulatory Authority (OGRA), the report identified that the Petroleum Division allegedly connived with OMCs to create an artificial crisis in the country to pressure the government.
The committee identified nine OMCs involved in hoarding, black-marketing, and dropping their sales. These include Shell Pakistan Limited, TOTAL PARCO Pakistan Limited, APL (Attock Petroleum Limited), Attock (Attock Oil Pakistan Limited), Byco, Go, Hascol, and Puma, and BE (Bakri Energy).
It mentioned that the officials of the Petroleum Division failed to fulfill their responsibilities and took no action while oil companies were creating an artificial petrol shortage in the country.
Directing punitive action against the officers involved, the premier also ordered the termination of licenses of nine oil marketing companies for hoarding and black marketing petroleum products.