OGRA fines three more oil companies


By Adnan Rafique

ISLAMABAD: Oil and Gas Regulatory Authority (Ogra) on Monday imposed hefty fines on three more oil marketing companies (OMCs) for creating artificial fuel shortage in the country. The oil and gas regulatory body imposed an overall fine of Rs 50 million on three oil marketing companies for not maintaining the mandatory stocks.
It also issued a showcause notice to the three companies on the matter and directed them to submit a reply within 24 hours. Earlier on June 11, Oil and Gas Regulatory Authority (Ogra) said that it had issued showcause notices to six oil marketing companies (OMCs) and registered cases against two of them over fuel shortage in the country. These cases have been registered in Karachi, said the Ogra spokesman. He said that the regulatory body had nothing to do with keeping a check on demand and supply of the petroleum products in the country. The spokesman said that the Ogra had received complaints of artificial fuel shortage being created in the country against three oil companies.