ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has fined17.8 million rupees on five oil marketing companies for violating the licence requirements.
Ogra said that the companies did not maintain sufficient stocks of petroleum products in violation of their licence requirements which led to the country’s worst petrol crisis in January.
Ogra also fined 9.1 million rupees on Askari Oil Marketing Company for violation of the Pakistan Petroleum Refining, Blending & Marketing Rules 1971 at the rate of Rs100,000 per defaulting petrol pump.
It also imposed a fine of 4.7 million rupees on Admore Gas Private Limited. Ogra imposed 1.6 million rupees fine on Byco Petroleum.
Hascol Petroleum was fined 1.9 million rupees because it also appeared to have misled Ogra and 0.5 million rupees were fined on Overseas Oil Trading for expanding its petrol pump network without back-up storage.
