ISLAMABAD: The Oil Companies Advisory Committee (OCAC) — which represents the companies refining and distributing oil — has accused the regulator of unduly favouring one of its members and causing distortions in the market.
In a letter to the Oil and Gas Regulatory Authority (Ogra), the committee criticised the regulator for permitting one company to import high-speed diesel (HSD).
The decision was “unfounded and irresponsible” as the country already had ample HSD stock, OCAC claimed.
Without naming any entity, the OCAC referred to Gas & Oil Pakistan Ltd (GO), saying it was granted permission to import 15,000 tonnes of additional HSD in June, 15,000 tonnes in July and 40,000 tonnes in August, while further import approvals for 38,000 tonnes had also been granted for September.
Group says one oil marketing company allowed to import HSD........