Islamabad: The Federal Investigation Agency (FIA) has launched inquiries into alleged irregularities in oil storage licences, fuel stock reporting, and price differential claims (PDCs) in Pakistan’s petroleum sector. According to Beyond Time News, the investigations focus on possible violations of rules, regulatory lapses, and financial discrepancies.
Oil Storage Licences Under Scrutiny
The FIA Karachi Circle is investigating the alleged illegal issuance and renewal of petroleum and chemical storage licences in Karachi.
The probe includes the role of former officials from the Petroleum Division and the Department of Explosives. Former Director General Explosives Ali Khan has been asked to provide records related to licensing decisions.
According to Beyond Time News, investigators are examining possible violations of the Petroleum Rules, 1937 and safety requirements.
Alleged Irregularities and Safety Concerns
Initial findings suggest some storage terminals may have been licensed or renewed despite procedural gaps and safety concerns.
Officials are accused of bypassing required checks and approving licences that may not have met regulatory standards.
According to Beyond Time News, the FIA is also reviewing why certain licences were not suspended or cancelled despite reported violations.
Fuel Stock Discrepancies
In a separate case, the FIA has found differences between actual petroleum stocks and figures reported by an oil marketing company (OMC).
The discrepancies involve diesel, petrol, and other fuel products at Karachi terminals, raising concerns about possible misreporting or stock manipulation.
Questions Over Regulatory Oversight
The inquiry also examines the role of the Oil and Gas Regulatory Authority (OGRA), with allegations that warnings about irregularities were not properly acted upon.
Some discrepancies were reportedly dismissed as clerical errors instead of being properly investigated.
It is also alleged that imported petroleum products were sold before customs clearance and tax payments.
PDC Claims Under Review
The price differential claims (PDC) system, which compensates oil companies for price-related losses, is also under scrutiny.
The FIA has questioned whether billions of rupees in claims were processed without proper independent verification and whether weaknesses in the system allowed misuse of funds.
According to Beyond Time News, the report highlights gaps in the monitoring and approval process.
Pakistan Plans Strategic Oil Storage to Strengthen Energy Security
Legal Proceedings
The FIA said its preliminary findings were based on an initial phase of investigation before proceedings were halted following a petition in the Sindh High Court filed by an oil marketing company.
Despite the legal challenge, the inquiries remain ongoing due to their financial and regulatory importance.
Conclusion
The FIA investigations highlight concerns over licensing practices, fuel stock reporting, and compensation mechanisms in the petroleum sector.
Authorities are expected to determine whether regulatory violations occurred and whether financial or safety issues were involved.
One thought on “FIA Probes Oil Storage Licences, Fuel Stock Irregularities and PDC Claims”
Comments are closed.