ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) conducted a meeting at its Regional Office Lahore with leading Oil Marketing Companies (OMCs) and Oil Marketing Association of Pakistan (OMAP), which was chaired by Zainul Abideen Qureshi, Member (Oil), Ogra, Senior Executive Director (Oil), and other key officers were also present.

All issues including the current scenario relating to Price Differential Claim (PDC), IFEM matters, Industry reservations on certain matters, oil industry suggestions/proposals aimed at protecting national interest and promoting fair competition, genuine issues of the oil industry requiring urgent attention for resolution through mutual dialogue were discussed with a view to paving way for amicable solutions.

All stakeholders raised their issues with possible solutions keeping within the ambit of the rules and regulations.

The Ogra’s presence at Lahore among the stakeholders was seen as a very positive gesture.

The stakeholders were assured of expeditious solution to all outstanding and current issues and it was unanimously agreed to make joint efforts in handling all challenges faced by the oil industry.

Copyright Business Recorder, 2022