Deregulation policy framework: Violators to face Nepra action

The government is said to be committed to taking action against Oil Marketing Companies (OMCs) and dealers through Oil and Gas Regulatory Authority (OGRA) in case deregulation policy framework is violated on marketing of diesel oil conforming to Euro-IV and Euro-V specifications, well informed sources told Business Recorder. Giving the background, sources said marketing of petroleum products in Pakistan was being deregulated in a gradual manner since the last 15 years. In the first phase, import and pricing of furnace oil was fully deregulated. Import of remaining products like diesel and petrol had also been deregulated and OMCs were allowed to procure from international market on a cost competition basis as per their commercial requirements.

Published in Business Recorder, 18th September, 2017