Oil importers created artificial shortage of POL products, Senate panel told.

ISLAMABAD -- The Senate Standing Committee on Interior was informed on Thursday that an artificial shortage of petroleum products was created in the country, last year, by oil importers and FIA has detected top 12 oil importers who made illegal money in millions of dollars in connivance with some government functionaries.

The committee that met under the chair of Senator A. Rehman Malik at the parliament house was given a detailed briefing by the Secretary Petroleum and Additional Director General FIA on the artificial shortage of petroleum products and the failure of the departments concerned to control corruption and hoarding by the Oil Marketing Companies (OMCs). The shortage had caused inconvenience and unrest countrywide.

Some foreigners based in Dubai, UK, Malta have been found involved in the scam. The committee was told, 'The diesel is imported illegally from Iran by using forged documents.'

The committee was told that artificial shortage and stockpiling of petroleum products was a major problem which caused a loss of billions of rupees to the national exchequer. In addition, a detailed briefing was given by the Secretary Petroleum as to how they describe the shortage into wet and dry mechanisms. The companies ensured to make the petrol stations dry from Karachi to Khyber and only make them wet after the rise of price of oil through hidden hoarding.

The meeting was informed that the owners have their networks in Dubai and UK and there are some highly influential smugglers which have been pointed out. An in-camera meeting will take place next week where FIA will explain about every importer and mechanics they use for this artificial shortage and draw the benefit out of it.

All the information in form of a consolidated report has been handed over by secretary petroleum to the committee and the information was circulated to all members. A sub-committee will be constituted to look into details and all those officials who were involved in the crime in connivance with the oil importers will be taken to task, the chair remarked.

The meeting was informed that some points have been identified in Dubai, UK, Singapore, Malta where the money has been illegally transferred which will be dealt under the money laundering laws and fraud.

Chairman Senator Malik gave an indication that after submission of final report by FIA and Ministry of Petroleum, the committee will invite Prime Minister Imran Khan in the meeting to see bungling by those who will...