PIAF lauds OGRA action against companies responsible for fuel dearth.

LAHORE -- The Pakistan Industrial and Traders Association Front has appreciated the Oil and Gas Regulatory Authority for taking action against companies responsible for fuel scarcity, urging it to also take notice of the record jump in oil prices, which were announced out of schedule, neither adopting any legal process nor prompted by any summary moved by the regulator.

PIAF Chairman Mian Nauman Kabir, in a joint statement with senior vice chairman Nasir Hameed and vice chairman Javed Siddiqi, welcomed the move by the oil regulator, imposing Rs5 million penalty each on three oil marketing companies (OMCs) after they were found involved in creating artificial shortage of petrol in the...