POL shortage: OGRA issues show cause to three OMCs
- OGRA said that according to the report, some companies have ample oil stocks in the southern part of the country while some of them have low oil stocks in the central and upper regions.
The Oil and Gas Regulatory Authority (OGRA) has issued show-cause notices to three Oil Marketing Companies (OMCs) for non-supply of petroleum products in the market.
As per details, a preliminary report on the stocks of OMCs has been submitted to OGRA by the Hydrocarbon Development Institute of Pakistan, a subsidiary of the Petroleum Division.
OGRA said that according to the report, some companies have ample oil stocks in the southern part of the country while some of them have low oil stocks in the central and upper regions.
The report said that some OMCs have very few stocks of petroleum products, which threatens the continuity of oil supply. OGRA said that these companies were not fully supplying petroleum products to retail outlets and in this situation, the supply of oil in the market was disrupted.
After reviewing the report, OGRA has issued show-cause notices to three oil marketing companies seeking a response within 24 hours.
General masses are facing artificial shortages of petrol and high-speed diesel (HSD) across the country after the government's decision to reduce the ex-refinery price of petrol and increase the petroleum levy (PL) in a price revision for June in line with the decline in petroleum prices in the international market.
On Sunday, the government announced to reduce ex-refinery (cost of supply) by Rs11.74 per liter from Rs35.73 per liter to Rs23.99 per liter. The government increased the petroleum levy on petrol from Rs23.76 to Rs30 per liter.
Comments
Comments are closed.