Punitive action against petrol hoarders: PM
By Staff ReporterWednesday – June 10, 2020
According to an official statement, the cabinet noted that the oil and gas regulatory authority (OGRA) and the petroleum division (PD) have the legal authority to physically enter and inspect oil companies’ storage facilities.
The cabinet directed the petroleum ministry to form “joint raiding teams” comprising of the representatives of PD, OGRA, federal investigation agency (FIA) and the district administrations.
The teams shall inspect all petrol depots/storages. They have all the authority to enter any site.
Anyone found involved in hoarding shall face full force of law, including arrest and forced release of such stores.
Any company found not maintaining the mandatory stocks and supply to its outlets, as per their license, shall face punitive actions, including suspension and cancellation of license and heavy fines.
The PM directed that the PD and OGRA take all actions necessary to ensure regular supplies within 48-72 hours.
The energy ministry (ME) informed the cabinet that while June 2019 total supplies were 650,000 metric tons the supplies arranged for June 2020 are 850,000 metric tons.
The cabinet urged the public not to engage in panic buying.
The stocks that are being hoarded will be identified and ensured to be available in the market and action taken against hoarders.
The PM directed the petroleum minister and OGRA to ensure that every oil marketing company (OMC) maintains 21 days stock to meet its license conditions.