Islamabad: The Oil and Gas Regulatory Authority (OGRA) has imposed hefty fines on six oil marketing companies (OMCs) for creating an artificial petrol shortage in the country, according to news sources. Additionally, the authority has served show-cause notices to another three OMCs.
Reportedly, the inspection teams from OGRA conducted a raid on the OMCs depots in Keemari and Port Qasim in Karachi and Taru Janna in Peshawar and found over 40 million litres of petrol.
The authority lodged the First Information Report (FIR) against the firms involved in hoarding activities that led to artificial oil shortage in the country. Heavy fines were also imposed on these firms for contract violations – of up to PKR 10 million to be paid within 30 days.
Moreover, OGRA has also asked these oil firms to improve the supplies to their respective outlets or be charged with heavier fines and legal implications.
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