Petroleum division recommends termination of dealers license on failure to maintain stock

ISLAMABAD: Petroleum Division has recommended termination of dealers licenses for failure to ensure sufficient stock for their respective Oil Marketing Companies (OMCs).

The petroleum division is cognizant of the artificial shortage of POL products that is being created in the country by opportunist OMCs and petrol dealers, a statement said on Thursday.

The petroleum division emphatically states that there is sufficient quantity of petrol stocks in the country.

Additional production by refineries as well as planned imports are on schedule to meet the monthly needs.

It is unfortunate that some OMCs and/or their dealers have resorted to such methods for profit maximization that are having an adverse impact on the lives of the esteemed consumers.

Petroleum Division has asked OGRA to take action against the OMCs who are not maintaining the required stocks or whose pumps are dry.

“We are also recommending termination of dealer licenses if they do not order sufficient product from their respective OMCs.”

Information and complaints being received by Petroleum Division are being forwarded to OGRA for deployment of vigilance teams against low stocks and overcharging.

OGRA has issued show cause notices to six OMCs and demanded immediate response.

The spokesperson reiterates Petroleum Division’s affirmation in ensuring that culprits are brought to book.

“If OMCs/dealers are not meeting their licenses conditions, OGRA will consider suspending or cancelling their licenses.”

Meanwhile the petroleum division has instructed PSO to increase their imports and supplies. Refineries have also been directed to ensure sufficient operations to meet planned imports to meet projected demand.

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