Maryam Nawaz slams Pakistan govt for ‘incompetence, corrupt practices’ over oil scam
IANS/Islamabad
File photo
Report notes a wide range of operations in oil sector are against law and rules
Pakistan Muslim League-Nawaz (PML-N) Vice President Maryam Nawaz on Wednesday slammed Prime Minister Imran Khan’s government for ‘incompetence, poor decision-making and corrupt practices’, two days after an inquiry commission on the June petroleum crisis released its report.
The commission’s 163-page report also estimated over (Pakistani) Rs 250 billion worth of oil smuggling and noted that a wide range of operations in the oil sector were against law and rules, operating without any check and balance, reported
May grant approval to two firms for sale and marketing of LNG
Government may overcome gas crisis but mismanagement in LNG imports will trigger another debt crisis in coming months. PHOTO: FILE
ISLAMABAD:
The Oil and Gas Regulatory Authority (Ogra) is set to conduct a public hearing on Thursday for the grant of licences for sale and marketing of liquefied natural gas (LNG) to two companies.
Subsidiaries of Energas and Tabeer Energy have submitted applications, seeking licence for sale and marketing of LNG.
However, different quarters have raised questions and said the licences, if allowed, will be like oil marketing companies’ licences without having storages. At present, these companies do not have storages as they are under the process of constructing LNG terminals. The storage is a mandatory requirement for companies seeking licence for sale and marketing of LNG.
Govt forms body to address SSGC’s concern
Committee mandated to resolve RLNG losses issue in consultation with stakeholders
PHOTO: FILE
The government has constituted a committee to address Sui Southern Gas Company’s (SSGC) repeated claim of recovering RLNG losses worth Rs7.7 billion from consumers of imported gas after the Oil and Gas Regulatory Authority (Ogra) rejected the claim.
“As per directives of the adviser on finance and revenue, a two-member committee comprising Ministry of Finance secretary and Ministry of Energy (Petroleum Division) secretary has been mandated to resolve the issue in consultation with the stakeholders,” SSGC stated in a detailed report sent to the Pakistan Stock Exchange (PSX) on Tuesday.
The commission’s 163-page report also estimated over Rs250 billion worth of oil smuggling from Iran and noted that a wide range of operations in the oil sector were against law and rules, operating in vacuum and without any check and balance. ─ Reuters/File
ISLAMABAD: Hurling scathing allegations at the entire oil supply chain, from policymakers to regulators and market players down to retail outlets, the 15-member Inquiry Commission on the June petroleum crisis has recommended departmental proceedings against top hierarchy of the petroleum division, dissolution of the Oil and Gas Regulatory Authority (Ogra) and a halt to the operations of refinery and oil marketing company Byco.
National
December 15, 2020
ISLAMABAD: The five-member Inquiry Commission headed by Abubakar Khudabaksh, Additional DG FIA, to probe into the shortage of petroleum products that hit the country in June, 2020 has recommended strict action against secretary Petroleum Division, DG Oil, Ogra and private oil marketing companies (OMCs).
The commission’s report also asked for dissolution of Oil and Gas Regulatory Authority (Ogra) for six months through act of Parliament, arguing it is not aligned with the ground realities. The Government of Pakistan constituted it on July 28, 2020 to probe into the shortage of petroleum products.
The 155-page report submitted to the federal cabinet that meets today (Tuesday) , mentions the catalogue of failures of Ogra since 2002 that includes dishing out licenses to OMCs without ensuring actual enhancement of storage facilities, failure to ensure minimum stock requirements, imposition of ritual fines on OMCs for drying out their retail outlets during