FIA requested to launch probe against oil marketing companies

Cabinet division accuses OMCs of causing Rs25b loss to national exchequer

By: News Desk      Published: 03:45 PM, 23 Jun, 2021
FIA requested to launch probe against oil marketing companies
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The cabinet division has written a letter to the Federal Investigation Agency to start a probe against the Oil Marketing Companies (OMCs) which the division has accused of causing the national exchequer a loss of more than Rs25 billion, reported 24NewsHD TV channel.

The sources informed News24 on Wednesday that the cabinet division had written a letter to the FIA DG requesting him to investigate the petroleum crisis which had caused a loss of more than Rs25 billion to the national kitty. The cabinet division also informed the FIA regarding the adulteration of petroleum products. 

The division has pleaded to the FIA to complete the forensic audit of the petroleum crisis by the end of July 2021. The FIA has been prayed to open an inquiry against the involved companies, sources said. 

It has been pointed out in the letter that despite the existence of 20-day backup stock rule in the law, the OMCs have been violating this regulation since long. 

The cabinet division revealed that the OMCs had failed to timely shift the stock from local refinery in February, March and April 2020. It further divulged that in order to conceal the artificial sale and hoarding of petroleum products, fake reports were prepared by the OMCs. 

It said that OMCs had established illegal private oil depots and retail outlets and requested an investigation into it. It also recommended to start a probe into the sale of prohibited petroleum products by the OMCs. 

Reporter Saud Butt