ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has been held responsible for ongoing worst petrol crisis in Pakistan, though Ogra is not even a Member Oil.
A two-member committee headed by Zahid Muzaffar blamed Ogra for the petrol crisis. The committee was constituted by Prime Minister Nawaz Sharif to investigate the ongoing fuel crisis and fix responsibility.
The committee also blamed Pakistan State Oil (PSO) Deputy Managing Director Sohail Butt for not timely importing petrol.
Meanwhile, shortly after the two-member probe committee held it responsible for the petrol crisis in the country, Ogra swung into action and served notices on 11 oil marketing companies (OMCs) for not maintaining petrol stocks and asked them to submit their replies within three days.
The OMCs will be fined up to Rs20 million and their licences can also be cancelled if they failed to satisfy the regulator. The OMCs are legally bound to maintain stocks for 20 days consumption. Shortage of fuel testifies to the fact that the OMCs were not maintaining stocks. The companies which got notices also include PSO, Shell, Total, Bakri, Byco and Attock Oil. After getting the replies, the Ogra will decide either to penalise or cancel the licenses of OMCs.
