LAHORE – The Oil Marketing Association of Pakistan (OMAP) expressed concern over the illegal interference of the Oil Companies Advisory Council (OCAC) in the affairs of the Oil and Gas Regulatory Authority (OGRA).
Chairman OMAP Tariq Wazir Ali recently wrote a letter to Chairman OGRA expressing that, as a lawful entity representing emerging OMCs, OMAP asserts that OCAC’s involvement contradicts OGRA’s role and poses a grave threat to the integrity of our national energy scenario.
It is important to note that Oil Marketing Companies (OMCs) are required to bear a hefty burden of Rs 240 million for the services provided by OCAC, the letter stated.
According to the letter, the financial restrictions have hindered the growth and efficiency of OMCs, preventing them from contributing to the energy sector. The letter suggests that these funds could be better used for activities that align with OGRA’s objectives and promote sector development.
Mr. Tariq Wazir expressed his concern in a letter regarding unresolved matters that have been lingering for a considerable time. The lack of resolution for an extended period, along with OGRA’s apparent diminishing interest, has led to a critical situation for Oil Marketing Companies (OMCs) attempting to operate in increasingly challenging conditions.
The letter highlights the seriousness of these issues as they pose a significant threat to the stability and sustainability of the petroleum industry in our country. We strongly believe that OGRA, as the industry’s regulatory body, has the responsibility to communicate the urgent concerns of OMCs to the relevant authorities.
The petroleum industry’s success relies on OGRA’s proactive engagement with policymakers to create favourable conditions, the letter suggested.