OGRA fines Rs8.050m to total Parco, PSO, Shell, others in 2010

ISLAMABAD: Oil & Gas Regulatory Authority (OGRA) has imposed fine Rs. 8.050 million to various Oil Marketing Companies for various reasons including non availability or hoarding of petroleum products and overcharging during inspection in year 2010.

According to OGRA, in such situation, dealers do hoard the products to gain maximum profits on the stocked products. a total Rs. 8,050 million fine was imposed on various companies including Total Parco 1,375,000, PSO 3,300,000, Shell 1,175,000, Admore 250,000, Askar 50,000, APL 425,000, Bakri 150,000, Bosicor 150,000, Chevron 650,000, Hascombe 475,000, OCTCL 50,000.

The Authority (OGRA) has established a special Department for effective enforcement and monitoring to provide safe, reliable and efficient service by the licensees to the consumers enabling the Authority to perform its obligations in a more practical way.

The Authority dispatched its inspection teams ahead of the notification of POL prices across the country.

More than 580 petrol pumps of all Oil Marketing Companies (OMCs) have been inspected since December 2009 to check smooth selling of petroleum products at notified price, availability and complaints regarding hoarding of petroleum products by petrol pump owners.

Two leading Oil Marketing Companies were also fined on hoarding of petroleum products.

The imposition of fine on Oil Marketing Companies due to stock deficiency, overcharging, hoarding etc have compelled them to instruct their dealers to avoid recurrence of such malpractices in future.