Daily Times

Oil and Gas Regulatory Authority (OGRA) on Wednesday assured the Oil Marketing Companies (OMCs) to resolve all the issues confronted by the oil industry on priority. The authority OMC and OMAP, in a meeting held at the OGRA’s Regional Office Lahore, agreed to make joint efforts in handling all the challenges faced by the oil industry, a news release said here. Among others, the meeting was attended by representatives of leading OMCs and Oil Marketing Association of Pakistan (OMAP), which was chaired by OGRA Member (Oil) Zain-ul-Abideen Qureshi, Senior Executive Director (Oil) and other officials. The meeting discussed issues including current scenario relating to Price Differential Claim (PDC), IFEM (Inland Freight Equalization Margin) matters, industry’s reservations and suggestions on certain matters. The meeting also deliberated on protecting national interests and promoting fair competition besides resolving the genuine issues of the oil industry that required ‘urgent attention’ through mutual dialogue.