OGRA imposes Rs40 mln fine on six OMCs for not maintaining fuel stocks

June 11, 2020: Oil and Gas Regulatory Authority (OGRA) on Thursday imposed fine amounting to Rs 40 million on six Oil Marketing Companies (OMCs) for not maintaining the required fuel stocks as per terms and conditions of the licences awarded to them.

The authority imposed plenty of Rs 5 million each on Attock Petroleum Limited, Puma, Gas & Oil Pakistan Limited and Hascol, and Rs 10 million each on Shell Pakistan and Total Parco Pakistan Limited, OGRA spokesman Imran Ghaznavi said in a news release.

On June 3, OGRA had issued show cause notices to these OMCs for not maintaining the mandatory fuel stocks at their depots, which disturbed supply chain

of petroleum products in the country.

The spokesman said the companies would bound to pay within 30 days and become eligible for filing review petitions after paying 50 percent of the plenty amount.

He said all OMCs had been directed to ensure regular supply of petroleum products to their retail outlets, otherwise fine would be imposed as per the law.

Meanwhile, OGRA issued show cause notices to three more OMCs including BE Energy, Byco and Askar on the same charge.

Currently, twenty-two teams of OGRA along with experts of Hydrocarbon Development Institute of Pakistan were busy in carrying out inspection of all OMCs' depots across the country aimed at ending the artificial fuel shortage created by some opportunists.


Posted on: 2020-06-11T23:20:00+05:00