ISLAMABAD: Top officials of Petroleum Division, OGRA and Byco have been blamed by the 15-member Probe Commission for the June, 2020 petroleum crisis in Pakistan.

The Commission headed by Abubakar Khudabakhsh (Additional DG, FIA) has suggested:

i) Dissolution of Ogra;

ii) Halting of Byco operations;

iii) Departmental proceedings against top officials.

It is pertinent to mention here that the report of the Inquiry Commission (constituted by PM Imran Khan late July) reveals that following the government’s announcement apropos decreasing retail prices to pass on the benefits of plunging global oil prices to the citoyens, oil marketing companies stopped supply to petrol pumps. That enabled the hoarding companies make Rs. 8 billion. On the other hand Shell and PSO , that did not hold the stocks, had to suffer a loss of Rs. 8 billion each.

After a thorough study of the report it transpires that:

i) Ogra failed to regulate market;

ii) Oil companies and refineries fleeced the suffering masses;

iii) Petroleum ministry officials failed to make timely, informed decisions to ensure uninterrupted fuel supplies and to verify accurately the petroleum inventories maintained by oil companies.

Cynics go haywire wondering were the regulators and ministry officials that naive or their palms were greased !

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