Fuel crisis: OGRA fines three more oil companies

ISLAMABAD: Oil and Gas Regulatory Authority (Ogra) on Monday imposed hefty fines on three more oil marketing companies (OMCs) for creating artificial fuel shortage in the country, ARY NEWS reported.

The oil and gas regulatory body imposed an overall fine of Rs 50 million on three oil marketing companies for not maintaining the mandatory stocks.

It also issued a show-cause notice to the three companies on the matter and directed them to submit a reply within 24 hours.

Earlier on June 11, Oil and Gas Regulatory Authority (Ogra) said that it had issued show-cause notices to six oil marketing companies (OMCs) and registered cases against two of them over fuel shortage in the country.

These cases have been registered in Karachi, said the Ogra spokesman.

He said that the regulatory body had nothing to do with keeping a check on demand and supply of the petroleum products in the country.

The spokesman said that the Ogra had received complaints of artificial fuel shortage being created in the country against three oil companies. We have proofs of artificial fuel shortage being created by these three companies, he said and assured that action would be taken against them as per law.

He claimed that the oil companies would end the fuel shortage in a while if prices of petroleum products were increased in the country.