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Govt. imposes fine of Rs6.1m on six oil companies

Virtual Position Forum :: Policy Matters :: Business Affairs

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GMT + 3 Hours Govt. imposes fine of Rs6.1m on six oil companies

Post by Noor Bangash Wed Sep 14, 2011 11:02 am

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ISLAMABAD: Government has imposed fine of Rs6.1 million on six oil marketing companies against not improving oil supply, Geo News reported on Tuesday.

Federal Petroleum Secretary Ejaz Chaudhary told ‘Geo News’ that these oil companies were fined against not improving oil supply under the conditions of the licence issued to them. The companies had also not stored fuel for the particular time inscribed in the licence, he added.

He further said that oil companies had been directed to improve supply within two weeks besides achieving the target of storage mentioned in the licence.
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