Petroleum Division orders legal action against two oil marketing companies

ISLAMABAD: The Petroleum Division has ordered legal action against two oil marketing companies after shortage of petroleum across the country, ARY News reported on Wednesday.

A government 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.

Assistant Commissioner Harbour West has been directed in the letter to take action against the two companies after evidence of fuel holding proved against them.

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.

According to reports, the committee members have taken these companies’ record from Keamari Terminal and the offices.

The government committee has also collected data about oil stocks of other private marketing companies.

It is to be mentioned here that apart of state-owned Pakistan State Oil (PSO), 14 private marketing companies also operating in the oil sector.

The government committee inquiring into the ongoing petroleum shortage across Pakistan, will recommend legal action if evidence of fuel holding found against other companies.

A case can be filed against an oil company after the charge of fuel holding proves against it. The Oil and Gas Regulatory Authority (OGRA) could cancel the licence of a company over fuel holding, sources said.

A spokesperson of the Oil and Gas Regulatory Authority (OGRA) has announced inspection of the oil depots across the country from today. The OGRA teams will inspect the oil stocks at depots and determine petrol supplies.

The companies violating the rules will be dealt with according to the law, OGRA spokesperson said.

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).