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Treasure Magazine

OGRA to lodge cases against two oil firms over artificial fuel shortage in Karachi

2 min read

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) on Tuesday has asked the Karachi administration to register cases against two oil marketing companies over the artificial fuel shortage in Karachi.

The regulator had also issued show-cause notices to six oil marketing companies (OMCs), the spokesman of OGRA said on a private TV channel. The regulatory body has nothing to do with keeping a check on demand and supply of the petroleum products in the country.

According to sources in Islamabad, Petroleum Division has approached local administration of Karachi to register cases against Hascol Pakistan Limited (HPL) and Gas and Oil (GO) Pakistan Limited for allegedly involved in hoarding and black marketing of petroleum products.

Member Committee formed by government to probe petrol crisis had written a letter to the Karachi administration to register a case against these two companies.

The committee had found that these two companies were involved in hoarding and black marketing of petroleum products that led to petrol crisis.

The regulators in a letter sent to the Prime Minister had mentioned that Shell Pakistan and Total Oil Companies have low oil stocks and they are deliberately creating shortage of oil in Pakistan.

“The OGRA had received complaints against three oil marketing companies who are creating artificial fuel shortage in the country,” spokesman said. We have proofs of artificial fuel shortage being created by these three companies, he said and assured that action would be taken against them as per law.

The spokesman said, “these oil companies would end the fuel shortage in a while if prices of petroleum products were increased.” He further said the OGRA teams would carry out inspection of oil depots of different oil companies to determine the stocks held by them.

PSO warns the petroleum ministry over fuel shortage about a month ago. Meanwhile, it has emerged that Pakistan State Oil (PSO) conveyed a letter to the petroleum division on May 02, identifying low stocks being held by the oil companies.

It said that the oil companies were not importing petroleum products that could lead to a fuel crisis in the country. “Oil prices have gone down in the international market but the petroleum division has imposed a ban on its import,” the letter read. The petroleum ministry, however, took no action over the prior alert.

Speaking on the matter, Federal Minister for Water Resources Faisal Vawda said that no such letter was tabled before the federal cabinet today.

“I have seen this letter today and it will be on the table of Prime Minister Imran Khan tomorrow,” he said adding that the premier would give a surprise on the matter.

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