Three More Oil Companies Fined for Creating Artificial Fuel Shortage

The Oil and Gas Regulation Authority (OGRA) has fined three more oil marketing companies (OMCs) for their involvement in creating an artificial petrol shortage in the country.

Without giving away names, the authority said it imposed hefty fines of Rs. 50 million on three OMCs for not maintaining the mandatory stocks, as required by the contract. It also served show-cause notices to these companies and sought a reply within 24 hours.


OGRA Finds Millions of Liters of Petrol Hoarded by OMCs, Slaps Heavy Fines

Earlier, the oil and gas regulatory body had slapped six oil marketing companies with massive fines for creating an artificial petrol shortage and had put three others on notice.


Fuel Prices Increased by Rs. 25 Per Litre

OGRA inspection teams had 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 involved in hoarding gasoline at its depot in Taru Janna, Peshawar.

  • Useless exercise, OMC’s have already earned thrice the amount by the price hike.

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