Oil crisis probe calls for disbanding Ogra

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ISLAMABAD: Hurling scathing allegations at the entire oil supply chain, from policymakers to regulators and market players down to retail outlets, the 15-member Inquiry Commission on the June petroleum crisis has recommended departmental proceedings against top hierarchy of the petroleum division, dissolution of the Oil and Gas Regulatory Authority (Ogra) and a halt to the operations of refinery and oil marketing company Byco.

The commission’s 163-page report also estimated over Rs250 billion worth of oil smuggling from Iran and noted that a wide range of operations in the oil sector were against law and rules, operating in vacuum and without any check and balance.

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