Oil and Gas Regulatory Authority (OGRA) has held responsible 6 major oil marketing companies for the ongoing petroleum crisis in the country besides slapping fine to the tune of Rs 40 million on them.
According to media reports, OGRA had issued show cause notices to Oscar petroleum, Byco petroleum and BE energy for violating rules and regulations and license terms. This move led to give rise to petroleum crisis.
The authority said that the companies which were found violating the licenses terms had insufficient stock.
Regulator imposed fine Rs 10 lac each on Shell Pakistan, Total Parco Pakistan Limited (TPPL)
The regulator also slapped fine to the tune of Rs 5 lac each on POMA energy, Gas and Oil Pakistan and Hascol petroleum.
OMC will have to pay fine within 30 days and it can seek review on OGRA orders within 30 days with payment of 50 percent fine.
The companies have been directed to improve supply to their outlets forthwith otherwise more fine can be levied in the event of persistent violations of rules and regulations.
OGRA had issued show cause notices to the oil marketing companies in the wake of suspension in supply of petroleum products and sought reply from them within 24 hours.
According to Imran Ghaznvi, spokesperson, OGRA had issued show cause notices to Shell Pakistan, Attock Petroleum limited and TOTAL PARCO.
Later show cause notices were issued to three more oiL manufacturing companies including Gas and Oil, POMA and HASCOL on the complaints regarding shortage of oil at retail outlets received at Prime Minister Citizen Portal.