ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Wednesday found six mega Oil Marketing Companies (OMCs) involved in prevailing shortage of petroleum products across the country. It suggested the Petroleum Division to call an urgent product review meeting (PRM) to review integrated system like stock, import and local production.

Spokesman Ogra Imran Ghaznavi alleged that six OMCs - the Attock Petroleum Limited (APL), Shell Pakistan Limited, Total Parco Pakistan Ltd, Hascol Petroleum Ltd, Gas and Oil Pakistan, and Puma Energy (Private) Ltd - were involved in shortage of petrol across the country out of 33 OMCs, and issued show causes notices to them.

The authority has sought a reply within 24 hours.

In case the OMCs failed to comply with the directives of the regulator, the authority may revoke their licenses, and punish them with a fine, which may extend to Rs10 million, and in case of continuing contravention with a further fine, which may extend to Rs1 million for every day during which such contravention continues.

According to the third-party physical verification and inspection through the HDIP, Ogra officers, media reports and general complaints through Prime Minister's Citizen Portal, the authority took notice and found these companies partially abandoned the regulated activity of marketing by either discontinuation of supply or provision of insufficient supplies at their retail outlets besides contravention of legal provisions of the (Refining, Blending, Transportation, Storage and Marketing) Rules, 2016, and Ogra Ordinance, 2002.

The authority also suggested the Petroleum Division to call an urgent PRM to review stock position, planned imports and local production in the light of surging petroleum products' demand in the country in June.

The authority further advised the division to make arrangement of additional cargoes and directed the refineries to enhance their production at maximum level to avoid further shortage of petroleum products.

The division has been asked to implement decisions taken in the PRM on May 13, 2020, with respect to schedule of imports of petroleum products and local production volumes as committed by refineries for supply to all OMCs to maintain sufficient requisite stocks in the country, and avoid any untoward situation that may affect the masses.