OMCs: petrol crisis (1).

Byline: Syed Ovais Akhtar - Karachi

PAKISTAN has been facing an acute petroleum crisis, forcing people to run from pillar to post to obtain regular or hi-octane petrol. This is happening at a time when world oil prices have hit rock bottom and our government has also reduced oil prices.

Thankfully, the prime minister and the government have taken notice of this and some inquiry has been initiated to probe into the issue. A committee is said to have been formed which, it is claimed, will be independent. It will, apparently, inquire into the causes that led to the shortage of petroleum products, although its findings will be doubtful.

In my opinion, the Oil and Gas Regulatory Authority (Ogra), which is the regulating body of the petroleum industry...