ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has increased revised the fares for oil transportation and allowed up to 64 percent increase in freight rates for oil tankers.
In a letter written to Oil Company Advisory Council (OCAC) on November 10, the Ogra said that effective from November 1, Ogra has revised the freight rate for the oil tankers. It was further informed that Ogra has agreed to allow an increase of 19.7 percent to 63.93 percent in fares of different slabs of oil transportation.
Although an agreement in this regard was reached here on October 25, at a meeting between the officials of the Ministry of Petroleum, Ogra and All Pakistan Oil Tanker Owners Association (APOTA) and Oil Tankers Contractor Association (OTCA). However, the Ogra didn’t inform the OCAC about the decision. Disappointed by the delay in announcement, APOTA and OTCA have given a fresh call for strike on November 13. However, after the formal letter now the strike has been called off.
The increase will be applicable from November 1 and will stay in effect for next two years. Under the decision the freight for cities was increased by 63.9 percent while for long distance it would be 19.7 percent.
