The Oil and Gas Regulatory Authority (OGRA) convened a meeting on Friday with the Oil Marketing Companies (OMCs) on their request to discuss the mechanism of exchange rate adjustment.
According to the OGRA spokesperson, the meeting was attended by the industry including the OCAC, OMAP, representatives of the Ministry of Energy (Petroleum Division) and OGRA.
OGRA’s finance department explained the mechanism of exchange rate adjustment in-depth, so that the stakeholders may understand the process, he said.
Further, the authority heard the issues of the OMCs and detail deliberations were done in this regard to improve the understanding of the participants.
It had been noted with great concern in the meeting that a counter-productive media campaign was being run against OGRA, which was absolutely rebutted, the spokesman added.
He said OGRA was cognizant of its mandate and was fully committed to working in the public interest.—APP