Prime Minister Imran Khan has ordered the revocation of licenses of oil marketing companies (OMCs) involved in hoarding petrol, causing the country to experience an artificial shortage. The decision was based upon the initial petrol crisis investigation report.
Prepared by the Oil and Gas Regulatory Authority (OGRA), the report described the suspected connivance of the Petroleum Division with the OMCs to establish an artificial crisis in the country in order to pressure the government.
Also Read: Oil Marketing Companies (OMCs) in Pakistan Fined by Authorities
Nine OMCs involved in hoarding, black-marketing, and dropping their sales were reported by the committee. These include Shell Pakistan Limited, APL (Attock Petroleum Limited), Attock (Attock Oil Pakistan Limited), Byco, Gas and Oil Pakistan, Hascol, and Puma, and BE (Bakri Energy).
It stated that Petroleum Division officials failed to fulfill their responsibilities and took no action while oil companies created an artificial shortage of petrol in the country.
The Premier also ordered the termination of licenses of nine oil marketing companies for the hoarding and black marketing of petroleum products, directing punitive action against the officers involved.
