ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has initiated action in response to market reports highlighting a sudden increase in LPG prices, despite the availability of ample stocks of LPG molecules across the country.
Preliminary investigations indicate that the artificial inflation in LPG prices stems from the hoarding of LPG stocks by certain entities. These unscrupulous elements are deliberately withholding stocks from consumers and selling the product at prices higher than those prescribed by OGRA.
In light of these findings, OGRA has promptly engaged with Provincial Chief Secretaries, urging them to take immediate measures against illegal hoarding activities. Local governments have been directed to ensure strict enforcement of OGRA-prescribed prices for LPG and to crackdown on those violating regulations.
Moreover, the Ministry of Energy, Petroleum Division, has issued directives to Chief Secretaries to expedite actions against perpetrators involved in hoarding practices, further underscoring the government’s commitment to curbing such malpractices.
In addition to administrative measures, OGRA has deployed enforcement teams to monitor LPG stocks and enforce compliance with prescribed pricing regulations. These teams are actively engaged in field operations to prevent the exploitation of consumers and ensure fair pricing of LPG.
The concerted efforts by OGRA, in coordination with provincial authorities and law enforcement agencies, aim to mitigate the adverse impact of hoarding on consumers and maintain stability in the LPG market. By promoting transparency and accountability, OGRA strives to safeguard the interests of consumers and uphold regulatory standards in the oil and gas sector.
