ISLAMABAD – Oil and Gas Regulatory Authority (OGRA) has imposed fine Rs 8.05 million to various oil marketing companies (OMCs) for irregularities, including non-availability or hoarding of petroleum products and overcharging during inspection in year 2010.
According to the OGRA, in such circumstances dealers do hoard products to gain extra profit on stocked products. Figures show that a total of Rs 8.05 million fine was imposed on different companies of which Rs 1.375 million was imposed on Total Parco, Rs 3.300 million on Pakistan State Oil, Rs 1.175 million on Shell, Rs 250,000 on Admore, Rs 50,000 on Askar, Rs 425,000 on APL, Rs 150,000 on Bakri, Rs 150,000 on Bosicor, Rs 650,000 on Chevron, Rs 475,000 on Hascombe and Rs 50,000 fine was imposed on OCTCL.
The authority has established a special department for effective enforcement and monitoring to provide safe, reliable and efficient service to consumers through licensees. The OGRA dispatched its inspection teams ahead of the notification of POL prices across the country. More than 580 petrol pumps of all oil marketing companies have been inspected since December 2009 to check smooth selling of petroleum products at notified price.
Two leading OMCs were also fined on hoarding of petroleum products.
