ISLAMABAD: Oil Marketing Association Pakistan (OMAP) on Tuesday called for an end to the witch hunt of the oil marketing companies saying it was increasingly becoming difficult for them to operate under the current circumstances.
OMAP Chief Executive Officer Ilyas Fazil in a letter to Federal Minister for Energy Hammad Azhar appealed for an end to the spate of enquiries against the OMCs in the wake of the June 2020 Petrol Crisis Commission’s report. OMAP is a representative body of the oil marketing companies.
“This Sector is the most important one to keep the wheels of the economy turning and must therefore be acknowledged as such and not subjected to the on-going witch-hunt it is facing that is consuming thousands of man-hours in providing information to the FIA, Explosives Department et.al.,” Fazil said in his letter.
The Petrol Crisis Commission in its report presented to the government last December had held some players in the petroleum sector responsible for the abrupt countrywide shortage. However, instead of fixing the problems identified in the report, government agencies have launched enquiries against all OMCs across the board and are seeking data, which does not even relate to last year’s crisis.
Fazil said that a significant amount of information had already been provided to the government agencies last year during the FIA Inquiry as well as the Lahore High Court’s Public Interest Litigation. “Not only is the same information being again sought but also information going back to two decades which has no relevance to the continuing enquiry. Hence my use of the word Witch-Hunt!,” he maintained. Besides, sending a negative signal to the existing and potential future investors, OMAP CEO said, it was also adversely impacting the work of the regulators – Ministry of Energy (Petroleum Division) and the Oil and Gas Regulatory Authority (OGRA).
Sheikh argued that the government should have maintained stable petroleum prices
MARI has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL
Gold rates decreased by $17 to $2,395 per ounce in the international market
Company's revenue saw a 13.9% year-on-year increase, reaching Rs49.2 billion, up from Rs43.19 billion in the same...
A man counts US dollars in a money exchange shop in Dhaka. — AFP/FileLAHORE: The first thing that the government...
Power generation stood at 8,741 gigawatt-hours or 11,749 megawatts in March