New Delhi, April 9 (IANS) Pakistan’s oil marketing companies are facing an acute liquidity crisis as up to Rs107 billion in unpaid price differential claims remain stuck, with industry players accusing the Oil and Gas Regulatory Authority of repeatedly shifting documentation requirements instead of clearing dues, according to an article in the local media.Industry estimates show the first claim of around Rs 27 billion, filed in mid-March, was only partially settled, while subsequent claims worth…
Latest Oil and Gas Regulatory Authority News & Updates
Islamabad, March 6 (IANS) Leaders of the Pakistan Petroleum Dealers Association (PPDA) have warned that petrol pumps across the country may start shutting down within the next few days after several petroleum firms have cut their supplies, local media reported. Addressing media at the Lahore Press Club, the association’s Central Secretary General Chaudhry Irfan Elahi stated the situation had become alarming due to reducing supply of fuel, Pakistan’s leading daily ‘The Express Tribune’ reported. …