6 OMCs slapped with fine for petroleum shortage

Oil and Gas Regulatory Authority (Ogra) has held six major oil marketing companies (OMCs) responsible for petroleum shortage across the country, while imposing fine worth Rs40 million.

Ogra held that the companies were found in violation of the licence conditions and they had insufficient stocks.

Fine of five million rupees each has been imposed on Attock Petroleum Limited, Puma, Gas & Oil Pakistan Limited and Hascol, and 10 million rupees each on Shell Pakistan and Total Parco Pakistan Limited.

The OMCs are required to deposit the fine within 30 days and can seek review of the Ogra orders after payment of 50pc fine also within 30 days. The companies have also been asked to improve the supplies to their outlets immediately otherwise further fine could be imposed on continued contravention of the rules.