Govt forms committee to probe petrol crisis

ISLAMABAD: The federal government on Wednesday formed an investigation committee to probe the ‘artificial’ petroleum shortage in the country, ARY News reported.

According to details, the investigation team will look into the causes of hoarding and black market behind Petroleum crisis.

In this regard, the probe committee has directed CEO’s of three oil companies to appear before the investigation team tomorrow. The three companies include Hascol Petroleum Limited, Shell and GO Oil Company.

The inquiry committee will examine the existing reserves of the three oil companies.

Earlier in the day, the Petroleum Division ordered legal action against two oil marketing companies after shortage of petroleum across the country.

A fact-finding committee formed over fuel crisis across the country had wrote a letter recommending punitive action against two privately-owned companies over their role in fuel crisis that have hit hard the country.

Read More: PM Imran takes strict notice of fuel shortage

The competent authority have been directed to book the COOs of the oil marketing companies while documentary evidence have also been provided against the two marketing entities.

Prime Minister Imran Khan on Tuesday hinted at taking strict action against the people involved in the crisis.

Presiding over the federal cabinet meeting, PM Imran said that no leniency would be shown to the elements found guilty of fuel shortage.

He maintained that strict action will be taken against Oil and Gas Regulatory Authority (OGRA) and all those responsible for the ongoing artificial petrol crisis in the country.

It is pertinent to mention here that the oil crisis surfaced across the country after the government made significant cut in petroleum prices on recommendation of the Oil & Gas Regulatory Authority (OGRA).